Himax Tech (HIMX) closed at $3.74 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's 0.09% loss on the day. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.06%.
Coming into today, shares of the fabless semiconductor company had gained 40.6% in the past month. In that same time, the Computer and Technology sector gained 4.55%, while the S&P 500 gained 1.26%.
HIMX will be looking to display strength as it nears its next earnings release. In that report, analysts expect HIMX to post earnings of $0.01 per share. This would mark a year-over-year decline of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $169.35 million, down 11.34% from the year-ago period.
It is also important to note the recent changes to analyst estimates for HIMX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 17.07% higher within the past month. HIMX is currently a Zacks Rank #1 (Strong Buy).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HIMX in the coming trading sessions, be sure to utilize Zacks.com.
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Himax Technologies, Inc. (HIMX) : Free Stock Analysis Report
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