Himax (HIMX) Q1 Earnings Report Preview: What To Look For

Petr Huřťák /
2023/05/10 6:59 am EDT

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

Last quarter Himax reported revenues of $262.3 million, down 42% year on year, inline with analyst expectations. It was a weaker quarter for the company, with declining revenue and 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 44.6% year on year to $228.9 million, a significant deceleration compared to the 33.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.11 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 Q1 earnings results, giving us a hint what we can expect. ON Semiconductor delivered top-line growth of 0.76% year on year, beating analyst estimates by 1.79% and Impinj reported revenues up 61.6% year on year, exceeding estimates by 2.76%. ON Semiconductor traded up 4.48% on the results, Impinj was down 20%. Read our full analysis of ON Semiconductor's results here and Impinj's results here.

The whole tech sector has been facing a sell-off since November 2021, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 7.34% over the last month. Himax is down 8.33% during the same time, and is heading into the earnings with analyst price target of $7.9, compared to share price of $6.93.

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