Himax Tech (HIMX) Gains But Lags Market: What You Should Know
In the latest trading session, Himax Tech (HIMX) closed at $8.46, marking a +1.2% move from the previous day. This change lagged the S&P 500's 1.39% gain on the day. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 1.97%.
Prior to today's trading, shares of the fabless semiconductor company had gained 22.4% over the past month. This has outpaced the Computer and Technology sector's gain of 3.17% and the S&P 500's gain of 2.58% in that time.
HIMX will be looking to display strength as it nears its next earnings release, which is expected to be February 4, 2021. On that day, HIMX is projected to report earnings of $0.18 per share, which would represent year-over-year growth of 1700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $275.80 million, up 57.66% from the year-ago period.
It is also important to note the recent changes to analyst estimates for HIMX. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.45% higher. HIMX currently has a Zacks Rank of #2 (Buy).
Digging into valuation, HIMX currently has a Forward P/E ratio of 17.93. This represents a discount compared to its industry's average Forward P/E of 22.65.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Himax Technologies, Inc. (HIMX) : Free Stock Analysis Report
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