Himax Technologies (NASDAQ:HIMX) released its earnings results on Thursday. The semiconductor company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The company had revenue of $188.40 million during the quarter, compared to the consensus estimate of $188.20 million. Himax Technologies had a return on equity of 6.12% and a net margin of 3.66%. Himax Technologies’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Himax Technologies updated its Q4 2018 guidance to $0.02-0.04 EPS and its Q4 guidance to $0.02-0.04 EPS.
HIMX stock traded down $0.41 during trading on Friday, hitting $4.41. 4,565,723 shares of the company’s stock were exchanged, compared to its average volume of 2,079,525. The stock has a market cap of $932.80 million, a price-to-earnings ratio of 27.56, a PEG ratio of 32.52 and a beta of -0.27. Himax Technologies has a 52-week low of $4.32 and a 52-week high of $13.95.
Hedge funds have recently bought and sold shares of the stock. Stelac Advisory Services LLC purchased a new stake in Himax Technologies in the third quarter valued at approximately $110,000. Russell Investments Group Ltd. purchased a new stake in Himax Technologies in the second quarter valued at approximately $153,000. Sheets Smith Wealth Management purchased a new stake in Himax Technologies in the second quarter valued at approximately $183,000. Engineers Gate Manager LP purchased a new stake in Himax Technologies in the second quarter valued at approximately $201,000. Finally, WESPAC Advisors SoCal LLC purchased a new stake in Himax Technologies in the second quarter valued at approximately $227,000. Hedge funds and other institutional investors own 22.92% of the company’s stock.
HIMX has been the subject of several research reports. BidaskClub raised Himax Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Zacks Investment Research upgraded Himax Technologies from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research note on Thursday, October 11th. ValuEngine cut Himax Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Robert W. Baird decreased their price objective on Himax Technologies from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Macquarie cut Himax Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $12.00 to $6.00 in a research note on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.99.
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About Himax Technologies
Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies worldwide. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.
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