Himax Technologies (NASDAQ:HIMX) Updates Q3 2019 Earnings Guidance

Himax Technologies (NASDAQ:HIMX) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $-0.05–0.03 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.02. The company issued revenue guidance of $157.46574-165.93164 million, compared to the consensus revenue estimate of $185.35 million.

Several brokerages recently weighed in on HIMX. Credit Suisse Group cut shares of Himax Technologies from a neutral rating to an underperform rating in a research note on Friday. Northland Securities reissued a hold rating and issued a $2.50 price objective on shares of Himax Technologies in a research note on Friday. BidaskClub raised shares of Himax Technologies from a strong sell rating to a sell rating in a research note on Wednesday, July 24th. Roth Capital reissued a neutral rating and issued a $3.50 price objective (down previously from $5.00) on shares of Himax Technologies in a research note on Friday, July 12th. Finally, Zacks Investment Research cut shares of Himax Technologies from a buy rating to a hold rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.86.

HIMX traded down $0.37 during trading on Friday, reaching $2.34. 2,445,477 shares of the stock traded hands, compared to its average volume of 1,312,748. The stock has a market capitalization of $466.51 million, a PE ratio of 135.50 and a beta of 0.04. The company has a 50-day simple moving average of $3.22. Himax Technologies has a 12 month low of $2.32 and a 12 month high of $6.78.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.03) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.03). The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $170.16 million. Himax Technologies had a net margin of 0.26% and a return on equity of 0.76%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts expect that Himax Technologies will post -0.14 EPS for the current fiscal year.

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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