HIMAX

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Re: HIMAX

Bericht door Meirito » 08 okt 2014 21:20

Weer een upgrade.

Lake Street Capital Markets reiterated a Buy rating and raised the price target from $8.50 to $12 for Himax Technologies, Inc. (NASDAQ: HIMX) in report issued Wednesday.

Analyst Jaeson Schmidt noted that recent checks with other suppliers "give us increased confidence that Himax’s display driver business will see continued strength throughout this year and next."

The report also mentioned that the pipeline for Himax product lines "should not only position this business to be a more meaningful contributor in 2015, but also shift the narrative to the higher margin, growing opportunities within the non-driver segment."

Schmidt concluded that "as investor focus moves to these product lines, we think shares could see significant multiple expansion."

Himax Technologies, Inc. recently traded at $9.21, down 2.23 percent.
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Meirito
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Re: HIMAX

Bericht door Meirito » 13 okt 2014 17:30

Himax krijgt wel een zware weerbots nu, mede door het mindere algemeen sentiment gaan ze naar 8,5 dollar momenteel. Meer dan een gezond aantal winstnemingen na de explosieve stijging de laatste maand is het volgens mij niet.
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Re: HIMAX

Bericht door goforit » 13 okt 2014 19:38

http://seekingalpha.com/article/2557915 ... of=45&dr=1" onclick="window.open(this.href);return false;

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Re: HIMAX

Bericht door goforit » 13 okt 2014 21:38

http://seekingalpha.com/article/2554605 ... of=45&dr=1" onclick="window.open(this.href);return false;

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Re: HIMAX

Bericht door Meirito » 15 okt 2014 17:19

Chardan behoudt aanbeveling verkopen:


Himax: Weak Q4 4G Shipment, Capacity Constraint; Chardan Says Sell

In a note published this morning, Chardan Capital Markets re-iterated its sell rating on Taiwan-based smartphone display maker Himax Technologies (HIMX). Analyst Jay Srivatsa said Himax is likely to have conservative fourth-quarter guidance. Himax will report earnings in about a month.

Chardan gave two reasons. First, after a strong third-quarter, smartphone shipment, especially of 4G phones, is likely to weaken:

We expect the top three telecom carriers to resume their promotions for Q4:14 but it is widely projected that several of the domestic handset manufacturers including Coolpad, Lenovo, Xiaomi as well as international brands like Samsung (SSNLF) will likely miss their 2014 handset shipment goals.

Second, Himax’s fab partner TSMC (TSM) is likely to use its factories to deliver the iPhone 6 for Apple:

We also project that HIMX may be capacity constrained in Q4:14 as its primary fab partner – TSMC (TSM-NR) is likely extending lead times with its customers as iPhone 6 devices fill out its fabs. Furthermore, we expect HIMX’s TV driver IC sales will likely drop in Q4:14 following Oct 1 holidays as manufacturers clear out excess inventories.

As such, we believe that HIMX could guide for Q4:14 revenues to be sequentially flat to down modestly, while street consensus estimates are projecting ~5% growth.

Chardan has a $5 price target. Himax closed at $8.55 yesterday.



Van tegen de stroom inzwemmen gesproken, $ 5 :)
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Re: HIMAX

Bericht door Meirito » 22 okt 2014 00:03

Slecht nieuws bij HIMAX, Google heeft beslist om haar optie om een groter belang in Himax te nemen niet om te zetten.
Op zich maakt het weinig verschil uit voor Himax zelf, maar de reactie op de markt zal wel zwaar zijn, after market -13% naar 6,9 dollar. Daling van vandaag inbegrepen, er was duidelijk nieuws gelekt, -20%. Ik blijf ze sowieso in portefeuille houden.

Himax Technologies, Inc. Announces Google Inc. Second Round Investment Decision
Himax Technologies, Inc.
9 minutes ago
GlobeNewswire

Google Chooses Not to Exercise Its Investment Option
Himax and Google to Remain Strategic Partners on Google Glass
TAINAN, Taiwan, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that Google Inc. has decided not to exercise its previously issued purchase option to make an additional investment into Himax's subsidiary, Himax Display Inc. ("HDI"). Himax has been authorized by Google to make the following statement: "Google continues to work closely with Himax as a strategic partner on future technologies and products and will remain a board observer."

Subsequent to Google's first round investment in the Company's HDI subsidiaryin October 2013, Himax has formed a strategic partnership with Google whereby Himax is the provider of liquid crystal on silicon ("LCOS") microdisplay technology that Google has recognized as the technology of choice for head-mounted displays (HMD) such as Google Glass. Since the third quarter of 2013, HDI has been expanding capacity and further enhancing production capabilities to meet demand for our LCOS product line.

"Google is one of the world's leading technology companies and innovators," stated Jordan Wu, President and Chief Executive Officer of Himax. "Despite Google's decision not to exercise its investment option in our HDI subsidiary, our continued close partnership with Google is invaluable as we aim to become a leading supplier to wearable technology companies and help to make the future of wearable products a reality. The on-going development and collaboration between Google and HDI validates our LCOS technology as the most superior and best suited microdisplay for wearable devices such as Google Glass," concluded Mr. Wu.

Founded in 2004, Himax Display, Inc. has focused on developing commercial applications for LCOS technologies, in-house manufacturing expertise and production lines with proven, high-volume shipment track records. Over the last few years, HDI has devoted its research and development of its LCOS technology for new applications of head-mounted display and other wearable computing applications.
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Re: HIMAX

Bericht door goforit » 11 nov 2014 16:40

-6% ?? enige verklaring ?

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Re: HIMAX

Bericht door Meirito » 13 nov 2014 13:43

Enige verklaring is misschien het feit dat beleggers anticipeerden op de Q3 update van vandaag.

Te vinden hier: http://finance.yahoo.com/news/himax-tec ... 00529.html" onclick="window.open(this.href);return false;

Press release is echt te lang :)

De resultaten liggen grotendeels in de lijn met de verwachtingen.
De Business update is interessanter
Business Updates

The fourth quarter is typically a low season for semiconductor and many semiconductor peers guided conservatively for the quarter. Nevertheless, the Company is seeing business slightly above typical seasonal level. Overall sales for the second half 2014 is still looking strong compared to the first half and definitely so relative to the same period last year. Himax expects the growth momentum of the second half to continue into 2015. The Company also sees Q4 revenue and gross margin being constrained by shortage in foundry capacity. It is now difficult to meet short lead time demands on 8" wafers. Himax has foreseen this coming since more than a few quarters ago, and has been proactively adding new supply partners to secure more capacity. It has been a long and challenging process but the Company is confident that such strategic planning will position itselves well with a more stable and diversified supply chain as it enters into 2015.

The Company anticipates its large panel driver IC business in the fourth quarter to remain stable. Fourth quarter is expected to be the second consecutive quarter when sales from large panel driver ICs achieve year-over-year growth since Q1, 2013. Himax sees driver IC sales for 4K TVs being the strongest area in this segment. 4K TV penetration has increased greatly in 2014 as The Company expected. However, seasonal adjustment in inventory from various customers in the fourth quarter will temporarily slow down the pace of growth. Despite inventory adjustment and the fact that the large panel driver IC market remains competitive and seasoned, Himax's capability to provide total solution covering sophisticated timing controller and driver IC has led to business wins with a high barrier of entry for many of its competitors as 4K TV continues to proliferate.

For driver ICs used in small and medium-sized panels, business covers smartphones, tablets and automotive applications markets. Fourth quarter sales for smartphones are likely to remain stable from the Company's primary Korean client and the Company anticipates the same from the Chinese market. In the short term, China smartphone market is slowing down mainly as a result of change in government policy, which has led to substantially reduced subsidy from cell phone operators. Himax expects China market to regain momentum by 2015 as retail, ecommerce, and direct sales point channels gradually replace operators as sales channel for smartphones. The Company also expects more shipment to the third world countries by China's phone makers, which will also contribute to demand growth for next year.

The Company expects sales of driver ICs for tablet displays to decline in the fourth quarter, the second quarter in a row, which is attributed to lower demand both from China's branded and white-box markets. The weakening tablet demand is mainly a result of recent slowing China exports to the third world countries and the Chinese government's credit tightening policy, an action that is pushing some smaller and less resourceful companies out of the market. The declining demand might be a result of changing consumer behavior as some consumers are moving to smartphones with screen sizes similar to those of smaller sized tablets. Meanwhile, demand for driver ICs used in automotive displays appears to stay flat in Q4.

The non-driver business segment provides the Company's most exciting long-term growth prospect. It is also the key differentiator for Himax against many of its competitors. Non-driver businesses experienced solid growth in Q3, accounting for 21.5% of total revenues, another record high. Compared to the same period last year, it grew 37.9%. Sales of many of the Company's non-driver products, especially CMOS image sensors and touch panel controllers, will deliver strong growth in the fourth quarter, while the rest of the products may be affected by seasonality and, in some areas, capacity constraint. Overall, the non-driver business category will enjoy approximately 35% growth for the whole of 2014. Himax expects this momentum to continue into 2015.

Revenues from CMOS image sensors continued to show strength in the third quarter, increasing more than 20% from the previous quarter. Sales of the 2 and 5 megapixel products were particularly strong. However, the Company saw some delays in certain customers' replacing older generation sensors with lower cost new designs which affected the Company's gross margin. As expected, 8 megapixel CMOS image sensors began small volume sales in the third quarter and sales will accelerate in Q4 2014. The Company also launched its first 13 megapixel sensor during the fourth quarter. It anticipates 8 megapixel CMOS image sensors to continue to be the mainstream in 2015, and 13 megapixel the rising star in high end smartphones. This puts Himax firmly in the map as one of a handful of companies capable of offering a comprehensive product portfolio for main cameras of smartphones.

Additionally, the Company is also developing CMOS image sensors for non-consumer applications, for example, CMOS image sensor product line for automotive and surveillance applications, which typically enjoy higher margins and have less intensive competition. Collectively, the Company expects its CMOS image sensor business to more than double in 2014, making it a fast rising player in the market.

Touch panel controller product line continued to enjoy phenomenal growth in Q3, increasing 20% sequentially and more than doubled for the nine months ended September 30. The company expects the strong growth momentum to continue in the fourth quarter as a result of several major design-wins across both international and Chinese markets. On the back of its rapidly growing market share in the traditional touch panel market, Himax believes its committed development in new in-cell and on-cell touch panel technologies have placed the Company in a leading position for the future. The Company has been working closely with multiple customers in their in-cell touch panel development, and expects the market to see major launches of this new technology very soon. Himax will be an integral partner in making this a reality.

Regarding Himax's LCOS business, the Company continues to work with existing customers, as well as some exciting new tier 1 customers. It is working with them on multiple designs simultaneously, many of which involve custom-built designs that are funded by customers' development fees.

Regarding Google's decision not to exercise its investment option in the Company's subsidiary, Himax Display Inc., in the Company's announcement for Google's decision, it stated that it was authorized by Google to make the following statement: "Google continues to work closely with Himax as a strategic partner on future technologies and products and will remain a board observer." This strong message from Google demonstrates the continued close partnership of the two companies, despite of Google's decision not to exercise its investment option. The ongoing development and collaboration between Google and HDI validates the Company's LCOS technology as the most superior and best suited microdisplay for head-mounted devices such as Google Glass.

Finally, the Company continues to partner with various industry leading companies using its cutting edge and industry-dominant wafer level optics, or WLO, for the development of three technologies of the future, namely, array camera, special purpose sensors and microdisplay light guides for head-mounted devices. This product development often requires adoption of Himax's internal CMOS image sensor, LCOS microdisplay and video processing algorithm teams. Himax sits in a leading and unique position as it is the only company in the industry which is able to offer such a one-stop total solution. To meet the anticipated demand growth for LCOS and WLO products, the Company is working on new plans to expand production capacity. The Company will report the progress in due course.

As stated in several of its previous earnings calls, Himax will continue to increase R&D spending in the fourth quarter in order to quickly capture several areas of new business opportunities. The Company expects the fourth quarter operating expenses to be the highest among all quarters of the year as certain new high-end product tape-outs are taking place within the quarter in both driver and non-driver areas. Himax remains positive with respect to business outlook for 2015 when it expects both revenue and earnings growth to continue.
Er wordt oa nog eens benadrukt dat mbt de LCOS Google de relatie met Himax behoudt, en dat er met betrekking tot oa de LCOS en nieuwe nicheproducten momenteel gekeken wordt om de capaciteit te verhogen.



All in all geen groot nieuws terug te vinden, ben eens benieuwd hoe de markt zal reageren maar ik vermoed toch dat het positief zal zijn. Potentieel HIMAX blijft zeer groot en in de vernieuwende markten lijken ze de leading supplier te worden.
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Re: HIMAX

Bericht door Meirito » 14 jan 2015 13:42

Naar aanleiding van negatieve geluiden op de markt betreffende de 2014 resultaten en de koersdaling hierop komt Himax uitzonderlijk met pre pressrelease waarin sommige resultaten reeds meegegeven worden. Ze kloppen hun guidance.
http://finance.yahoo.com/news/himax-tec ... 04129.html" onclick="window.open(this.href);return false;
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Re: HIMAX

Bericht door Meirito » 14 jan 2015 19:26

De volledige press release voor diegenen die niet graag op een link klikken ;)
Koers is sterk vertrokken maar ondertussen volledig teruggevallen tot minder dan 1% in de plus. De negatieve trend van de laatste weken weegt nog door.

Himax Technologies, Inc. Pre-announces Fourth Quarter 2014 Financial Results
11:35 (14/01) - Bron: GNW

http://pdf.reuters.com/htmlnews/8knews. ... nGNXVCMTVa" onclick="window.open(this.href);return false;

* Fourth Quarter 2014 Performance Outperforms Company Guidance

TAINAN, Taiwan, Jan. 14, 2015 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq:HIMX) ("Himax"
or "Company"), a leading supplier and fabless manufacturer of display drivers and other
semiconductor products, today pre-announced its fourth quarter 2014 revenues, gross margin and
EPS.

Himax has chosen to pre-announce its fourth quarter 2014 financial results to address recent
market confusion caused by negative rumors that Himax might miss its 4Q'14 guidance. We would like
to reiterate that, as a principle, the Company only pre-announces financial results when it misses
or substantially beats its guidance.

The Q4, 2014 revenues, gross margin and EPS are set out below. The original guidance figures that
we gave on investor conference call on November 13 are also provided for easy comparison.

* Net Revenues: $227.2 million, an increase of 2.2% quarter over quarter versus Company guidance
of flat to slightly up.

* Gross Margin: 24.7%, up 0.2% from the previous quarter, versus Company guidance of down within
1%.

* GAAP EPS: 8.7 - 9.2 cents per diluted ADS versus the Company's guided range of 7.5 to 9.2 cents.

The new EPS guidance has taken into account some $3.3 million (1.9 cents per ADS) in additional
income tax charges caused by further NTD depreciation against the USD. From the date of the EPS
guidance (November 10) to the year end, the NTD depreciated from 30.55 to 31.65 against the USD.
If the NTD/USD rate had stayed at 30.55, our EPS would have been higher by 1.9 cents, far
outperforming our original guidance.

On a side note, on top of solid core businesses, Himax is experiencing strong momentum in our LCOS
and WLO operations. As noted previously, Himax continues to work closely with world leading
customers and/or partners in the LCOS and WLO sectors.

The Company will provide its full financial report and also host a conference call with investors
in early February.
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