Himax Quarterly Update; Oppenheimer Reiterates Outperform

In a research report issued today, Oppenheimer analyst Andrew Uerkwitz maintained an Outperform rating on Himax (NASDAQ:HIMX), following the company’s release of its third quarter results, posting revenues/non-GAAP EPS of $222.3M/$0.11 vs Oppenheimer’s $222.9M/
$0.11 and the Street’s $224.7M/$0.11. No price target was provided.

Uerkwitz noted, “Overall, a solid quarter (especially considering how negative the tone was coming off of a poor 2Q14). Seasonality and competition seem to be slowing the momentum into 4Q as guidance was light vs. Street. Our rating and model are currently under review.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 6.0% and a 61.5% success rate. Uerkwitz has a -5.5% average return when recommending HIMX, and is ranked #1004 out of 3372 analysts.

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