Himax Technologies (HIMX) Shares Gap Down on Disappointing Earnings

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $8.88, but opened at $8.29. Himax Technologies shares last traded at $8.20, with a volume of 6640689 shares.

The semiconductor company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $184.30 million. Himax Technologies had a net margin of 4.08% and a return on equity of 6.45%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS.

HIMX has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Himax Technologies in a research report on Sunday, October 22nd. Zacks Investment Research lowered Himax Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Oppenheimer reaffirmed a “sell” rating and issued a $4.00 price target on shares of Himax Technologies in a research report on Friday, November 10th. Vetr lowered Himax Technologies from a “strong-buy” rating to a “buy” rating and set a $12.59 price target for the company. in a research report on Friday, November 17th. Finally, Morgan Stanley lowered Himax Technologies from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a research report on Monday, November 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Himax Technologies presently has an average rating of “Hold” and an average target price of $10.86.

A number of large investors have recently modified their holdings of the business. Northern Trust Corp raised its position in Himax Technologies by 9.7% in the 2nd quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,583 shares during the last quarter. California Public Employees Retirement System raised its position in Himax Technologies by 0.8% in the 2nd quarter. California Public Employees Retirement System now owns 519,300 shares of the semiconductor company’s stock worth $4,258,000 after buying an additional 4,300 shares during the last quarter. Aperio Group LLC purchased a new position in Himax Technologies in the 4th quarter worth about $107,000. State Street Corp raised its position in Himax Technologies by 9.6% in the 2nd quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 10,969 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Himax Technologies in the 4th quarter worth about $122,000. 27.31% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $1,411.25, a PE ratio of 48.24, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46.

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Himax Technologies Company Profile

Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.

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