Earnings To Watch: Himax (HIMX) Reports Q2 Results Tomorrow

Anthony Lee /
2023/08/09 8:04 am EDT

Semiconductor maker Himax Technologies (NASDAQ:HIMX) will be reporting results tomorrow morning. Here's what to look for.

Last quarter Himax reported revenues of $244.2 million, down 40.8% year on year, beating analyst revenue expectations by 6.7%. It was a mixed quarter for the company, with an impressive beat of analysts' revenue estimates but a decline in its operating margin.

Is Himax buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Himax's revenue to decline 22.7% year on year to $241.6 million, a further deceleration on the 14.4% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.

Himax Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.

Looking at Himax's peers in the analog semiconductors segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Impinj delivered top-line growth of 43.8% year on year, beating analyst estimates by 1.17% and Vishay Intertechnology reported revenues up 3.31% year on year, exceeding estimates by 1.17%. Impinj traded down 19.4%, and Vishay traded flat on the results.

Read our full analysis of Impinj's results here and Vishay Intertechnology's results here.

Investors in the analog semiconductors segment have had steady hands going into the earnings, with the stocks up on average 0.27% over the last month. Himax is down 6.83% during the same time, and is heading into the earnings with analyst price target of $7.7, compared to share price of $6.7.

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The author has no position in any of the stocks mentioned.