Stock Story -
Semiconductor maker Himax Technologies (NASDAQ:HIMX) will be reporting results tomorrow before the bell. Here's what to expect.
Himax met analysts' revenue expectations last quarter, reporting revenues of $227.7 million, down 13.2% year on year. It was a decent quarter for the company, with a significant improvement in its inventory levels.
Is Himax a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Himax's revenue to decline 16.7% year on year to $203.4 million, improving from the 40.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.
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 missed Wall Street's revenue estimates four times over the last two years.
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. MACOM delivered year-on-year revenue growth of 7%, meeting analysts' expectations, and Sensata (NYSE:ST) Technologies reported flat revenue, topping estimates by 2.1%. MACOM traded up 4% following the results while Sensata Technologies was also up 7.2%.
Read the full analysis of MACOM's and Sensata Technologies's results on StockStory.
Investors in the analog semiconductors segment have had steady hands going into earnings, with share prices flat over the last month. Himax is down 4.2% during the same time and is heading into earnings with an average analyst price target of $6.4 (compared to the current share price of $5.3).
