Brean Capital Remains Sidelined on Himax Technologies (HIMX) Following Solid 2Q
- S&P 500, Nasdaq set records as tech, banks lead
- Texas Instruments (TXN) Tops Q4 EPS by 20c, Issues Solid Q1 Outlook
- Intuitive Surgical (ISRG) Tops Q4 EPS by 10c; $2B Accelerated Share Repurchase
- Seagate Technology (STX) Tops Q2 EPS by 30c
- After-Hours Stock Movers 01/24: (BOBE) (STX) (WDC) Higher; (NEWT) (MRCY) (CA) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Brean Capital reiterated a Hold rating on Himax Technologies (NASDAQ: HIMX) following the company's 2Q earnings report. HIMX reported revenue of $201.1M versus previous consensus of $198.6M. EPS was $0.115 vs. the Street at $0.10. For the September quarter, the company sees continued strong business trends and this caused the company to guide revenue to be up 5%-10% Q/Q. The midpoint of revenue guidance implies revenue of $216.2M vs. Street at $212.6M.
Analyst Mike Burton commented, "We are updating our estimates to account for Himax’s report and guidance given late last week. Himax’s June quarterly numbers were strong with revenue and EPS beating Consensus. In terms of forward guidance for the Sep-16Q, the company guided revenue above the Street, guiding revenue up an impressive 5-10% Q/Q. However, given the flattish to down margin trends, the company is expecting the mid-point of Sep-16Q EPS to be flat Q/Q at $0.12. While we see a lot of excitement around HIMX’s AR/VR ramp and believe the company is seeing some good Y/ Y growth in 4K TVs and smartphones, we are staying consistent with our Hold-rated view on shares of Himax. We look to get more positive on shares when we see an upside scenario that we believe will be triggered by additional content in the Oculus and upside from Hololens when this product starts to ramp meaningfully."
Shares of Himax Technologies closed at $9.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Zions Bancorp (ZION) PT Lowered to $49 at FIG Partners Following 4Q EPS Beat
- Bank of Marin Bancorp (BMRC) PT Raised to $70 at FIG Partners Following 4Q Report
- American International Group (AIG) PT Lowered to $69 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesEarnings, Brean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!