Today’s Research Reports on Stocks to Watch: Himax Technologies and Palo Alto Networks
NEW YORK, NY / ACCESSWIRE / November 22, 2017 / Himax Technologies saw big gains on Tuesday and hit a new high despite any significant news. The company beat on both the top and bottom line earlier in the month when it released its third quarter results. Shares of Palo Alto Networks also closed higher after receiving several price increases from analysts after reporting a strong earnings report last week.
RDI Initiates Coverage on:
Himax Technologies, Inc.
https://rdinvesting.com/news/?ticker=HIMX
Palo Alto Networks, Inc.
https://rdinvesting.com/news/?ticker=PANW
Himax Technologies, Inc. shares closed up 11.11% on nearly 15 million shares traded on Tuesday. The stock hit a new high of $13.42 during intra-day trading. There was no remarkable news from the company to explain the move. Earlier in the month the company reported its third-quarter financial report. For the quarter, Himax reported a profit of $3.7 million. On a per share-basis, the company had a profit of 2 cents. Adjusted earnings were 5 cents a share, beating the average analyst estimate of 4 cents a share. Revenue at $197.1 million was also higher than the $191.3 million that analysts had expected. Looking ahead, the company has forecast earnings in the range of 13 to 15 cents for the current quarter. Shares have gained over 117% YTD and are up 69% in last 1 year.
Access RDI's Himax Technologies, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=HIMX
Palo Alto Networks, Inc. shares closed up 4.82% on Tuesday on about 9.1 million shares traded. The stock saw the gains after the cybersecurity company received price target increases from several analysts. It was last week that the company released its fiscal first quarter earnings results that revealed a loss of 70 cents a share. Adjusted earnings were 74 cents while revenue was $505.5 million. Analysts had been waiting for adjusted earnings of 68 cents and revenue of $488.8 million. Looking ahead, the company has forecast adjusted earnings in a range of 78 cents to 80 cents on revenue of $518 million to $528 million. For the year, the company is expecting earnings in the range of $3.35 to $3.41 on revenue of $2.15 billion to $2.19 billion. Analysts had been expecting earnings of 77 cents for the second quarter on revenue of $519.6 million. For the full year analysts are waiting for earnings of $3.31 a share on revenue of $2.15 billion. Analyst John DiFucci of Jefferies raised his price target from $168 to $183 with a "buy" rating. Gregg Moskowitz, an analyst with Cowen raised his price target to $170 from $165. He has an "outperform" rating on the stock.
Access RDI's Palo Alto Networks, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PANW
Our Actionable Research on Himax Technologies, Inc. (NASDAQ: HIMX) and Palo Alto Networks, Inc. (NYSE: PANW) can be downloaded free of charge at Research Driven Investing.
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