Semiconductor maker Himax Technologies (NASDAQ:HIMX) will be reporting results tomorrow before market open. Here's what investors should know.
Himax beat analysts' revenue expectations by 2% last quarter, reporting revenues of $207.6 million, down 15% year on year. It was a decent quarter for the company, with revenue and EPS exceeding Wall Street's 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 be flat year on year at $232.8 million, improving from the 24.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 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 three times over the last two years.
Looking at Himax's peers in the analog semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 19.2%, beating analysts' expectations by 5.2%, and Monolithic Power Systems reported revenues up 15%, topping estimates by 3.4%. Impinj traded up 4.6% following the results while Monolithic Power Systems was also up 1.2%.
Read our full analysis of Impinj's results here and Monolithic Power Systems's results here.
Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts thanks to mixed inflation data, and analog semiconductors stocks have not been spared, with share prices down 19.8% on average over the last month. Himax is down 27.2% during the same time and is heading into earnings with an average analyst price target of $8.2 (compared to the current share price of $5.87).
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