In the latest trading session, Himax Tech (HIMX) closed at $12.46, marking a +1.55% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.1%. At the same time, the Dow added 0.9%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today’s trading, shares of the fabless semiconductor company had lost 19.65% over the past month. This has lagged the Computer and Technology sector’s loss of 5.38% and the S&P 500’s gain of 0.71% in that time.
Wall Street will be looking for positivity from HIMX as it approaches its next earnings report date. The company is expected to report EPS of $0.32, up 1500% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $296.47 million, up 60.61% from the prior-year quarter.
HIMX’s full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $1.22 billion. These results would represent year-over-year changes of +283.33% and +37.87%, respectively.
It is also important to note the recent changes to analyst estimates for HIMX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HIMX is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that HIMX has a Forward P/E ratio of 10.67 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 20.6.
The Electronics – Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.