Semiconductor maker Himax Technologies (NASDAQ:HIMX) will be reporting results tomorrow before the bell. Here’s what to look for.
Himax beat analysts’ revenue expectations by 7.3% last quarter, reporting revenues of $237.2 million, up 4.2% year on year. It was a stunning quarter for the company, with a significant improvement in its inventory levels and a solid beat of analysts’ EPS estimates.
Is Himax a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Himax’s revenue to grow 1.3% year on year to $210.2 million, a reversal from the 15% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Himax has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.7% on average.
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 11.1%, beating analysts’ expectations by 4.1%, and Impinj reported a revenue decline of 3.3%, topping estimates by 3.7%. Texas Instruments traded up 6.7% following the results while Impinj was also up 16.9%.
Read our full analysis of Texas Instruments’s results here and Impinj’s results here.
There has been positive sentiment among investors in the analog semiconductors segment, with share prices up 22.5% on average over the last month. Himax is up 30.4% during the same time and is heading into earnings with an average analyst price target of $11.23 (compared to the current share price of $7.68).
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