Semiconductor maker Himax Technologies (NASDAQ:HIMX) will be reporting earnings this Thursday before market hours. Here’s what investors should know.
Himax beat analysts’ revenue expectations last quarter, reporting revenues of $203.1 million, down 14.4% year on year. It was a mixed quarter for the company, with EPS in line with analysts’ estimates but an increase in its inventory levels.
Is Himax a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Himax’s revenue to decline 9.4% year on year, a reversal from the 3.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Himax has a history of exceeding Wall Street’s expectations.
Looking at Himax’s peers in the analog semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 18.6%, beating analysts’ expectations by 6.6%, and Skyworks Solutions reported flat revenue, topping estimates by 4.6%. Texas Instruments traded up 19.4% following the results.
Read our full analysis of Texas Instruments’s results here and Skyworks Solutions’s results here.
There has been positive sentiment among investors in the analog semiconductors segment, with share prices up 42.2% on average over the last month. Himax is up 39.7% during the same time and is heading into earnings with an average analyst price target of $9 (compared to the current share price of $12.37).
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