Himax Technologies, Inc. (HIMX) Expected to Announce Quarterly Sales of $190.90 Million

Wall Street brokerages predict that Himax Technologies, Inc. (NASDAQ:HIMX) will post sales of $190.90 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Himax Technologies’ earnings, with the highest sales estimate coming in at $193.10 million and the lowest estimate coming in at $188.70 million. Himax Technologies posted sales of $181.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, February 19th.

On average, analysts expect that Himax Technologies will report full year sales of $723.55 million for the current financial year, with estimates ranging from $721.40 million to $725.70 million. For the next fiscal year, analysts expect that the business will report sales of $775.70 million, with estimates ranging from $750.00 million to $801.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Himax Technologies.

HIMX has been the subject of several research reports. Zacks Investment Research downgraded Himax Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 6th. BidaskClub lowered Himax Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, November 30th. Robert W. Baird decreased their price target on Himax Technologies from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Thursday, November 8th. ValuEngine upgraded Himax Technologies from a “sell” rating to a “hold” rating in a research note on Monday, December 17th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $7.00 price objective on shares of Himax Technologies in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.88.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Himax Technologies by 611.1% in the second quarter. Bank of America Corp DE now owns 551,903 shares of the semiconductor company’s stock worth $4,117,000 after buying an additional 474,291 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Himax Technologies during the 3rd quarter worth about $676,000. Luminus Management LLC acquired a new stake in shares of Himax Technologies in the 3rd quarter valued at approximately $5,880,000. Stevens Capital Management LP acquired a new stake in Himax Technologies during the 3rd quarter worth approximately $100,000. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Himax Technologies during the third quarter worth $110,000. Institutional investors and hedge funds own 19.62% of the company’s stock.

Himax Technologies stock traded up $0.01 during trading hours on Friday, reaching $3.91. 1,491,127 shares of the company’s stock traded hands, compared to its average volume of 2,128,066. The company has a market cap of $691.86 million, a PE ratio of 24.44 and a beta of 0.04. Himax Technologies has a fifty-two week low of $3.03 and a fifty-two week high of $8.88.

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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