Himax Technologies (NASDAQ:HIMX) Releases Q2 Earnings Guidance

Himax Technologies (NASDAQ:HIMXGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.45-0.50 for the period, compared to the consensus EPS estimate of $0.65. The company issued revenue guidance of down 16-20% sequentially to ~$330.2 -346.8 million, compared to the consensus revenue estimate of $426.48 million.Himax Technologies also updated its Q2 2022 guidance to $0.45-$0.50 EPS.

Shares of HIMX traded up $0.34 during mid-day trading on Thursday, reaching $8.31. The company’s stock had a trading volume of 5,518,882 shares, compared to its average volume of 3,535,849. The business has a fifty day moving average of $10.08 and a 200 day moving average of $10.89. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 3.19 and a beta of 2.01. Himax Technologies has a 1 year low of $7.30 and a 1 year high of $17.30. The company has a quick ratio of 1.65, a current ratio of 1.98 and a debt-to-equity ratio of 0.05.

Himax Technologies (NASDAQ:HIMXGet Rating) last posted its earnings results on Thursday, February 17th. The semiconductor company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $451.90 million for the quarter. Himax Technologies had a return on equity of 64.29% and a net margin of 28.24%.

A number of analysts recently commented on the company. Nomura Instinet reiterated a neutral rating and issued a $11.00 price objective on shares of Himax Technologies in a research report on Thursday, April 7th. StockNews.com began coverage on shares of Himax Technologies in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, Nomura cut Himax Technologies from a buy rating to a neutral rating and set a $11.00 price target for the company. in a report on Thursday, April 7th.

A number of large investors have recently made changes to their positions in HIMX. Harbour Investments Inc. boosted its stake in Himax Technologies by 241.6% during the 4th quarter. Harbour Investments Inc. now owns 1,800 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,273 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Himax Technologies in the 3rd quarter worth approximately $72,000. Bank of New York Mellon Corp bought a new stake in shares of Himax Technologies in the 3rd quarter worth approximately $113,000. Raymond James Financial Services Advisors Inc. boosted its stake in Himax Technologies by 36.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,571 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 6,558 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Himax Technologies by 467.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,739 shares of the semiconductor company’s stock valued at $268,000 after acquiring an additional 20,376 shares in the last quarter. 26.96% of the stock is owned by institutional investors and hedge funds.

About Himax Technologies (Get Rating)

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates through two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality devices, and other consumer electronic devices.

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