Himax Technologies (HIMX)
NASDAQ:HIMX
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Himax Technologies
(NASDAQ:HIMX)
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Rating:60Neutral
Price Target:
$12.00
▲(8.11% Upside)
Action:ReiteratedDate:04/22/26
HIMX scores as a mid-range setup: financial performance remains profitable with positive free cash flow but is weighed down by multi-year revenue contraction, compressed margins, and higher leverage versus the prior cycle. Technicals are supportive (strong uptrend and positive momentum) but appear overextended, while valuation is a headwind at a ~32.5 P/E despite a ~3.18% dividend yield. The latest earnings call was mixed, with near-term caution in guidance but signs of sequential improvement and credible longer-term growth initiatives.
Positive Factors
Automotive Market Leadership
Himax's dominant positions and hundreds of automotive design wins create durable revenue visibility from longer product cycles and stricter qualification barriers. Automotive contracts are stickier and often higher-margin than commodity mobile drivers, supporting a structurally stronger revenue mix and customer stickiness over 2–6 months and beyond.
Negative Factors
Multi‑Year Revenue Decline
A sustained drop in revenue materially reduces scale economies and bargaining power with foundries and panel customers. Persistent top-line contraction constrains margin recovery, limits reinvestment capacity in R&D and product development, and raises the execution bar for strategic initiatives to offset lost volume.
Read all positive and negative factors
Positive Factors
Negative Factors
Automotive Market Leadership
Himax's dominant positions and hundreds of automotive design wins create durable revenue visibility from longer product cycles and stricter qualification barriers. Automotive contracts are stickier and often higher-margin than commodity mobile drivers, supporting a structurally stronger revenue mix and customer stickiness over 2–6 months and beyond.
Read all positive factors
Himax Technologies (HIMX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.95B
Dividend Yield4.48%
Average Volume (3M)4.28M
Price to Earnings (P/E)32.5
Beta (1Y)2.03
Revenue Growth-8.01%
EPS Growth-44.59%
CountryUS
Employees2,177
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.04
Shares Outstanding174,425,920
10 Day Avg. Volume2,879,044
30 Day Avg. Volume4,282,692
Financial Highlights & Ratios
PEG Ratio-0.75
Price to Book (P/B)1.60
Price to Sales (P/S)1.72
P/FCF Ratio11.92
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue2.13
Enterprise Value/Gross Profit6.97
Enterprise Value/Ebitda23.10
Forecast
1Y Price Target
$10.00Price Target Upside-9.91% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.23
Revenue Forecast (FY)$844.31M
Himax Technologies Business Overview & Revenue Model
Company Description
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates through two segments, Driver IC and No...
How the Company Makes Money
Himax makes money primarily by selling semiconductor integrated circuits it designs, with manufacturing outsourced to third-party foundries (fabless model) and products shipped through a mix of direct sales to original equipment manufacturers (OEM...
Himax Technologies Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: near-term financials showed pressure with full-year revenue and profits down YoY and guidance for a modest decline in Q1 2026, but the company reported sequential Q4 improvement, a solid cash position, outperformance in automotive and non-driver segments, and clear progress on multiple strategic growth initiatives (CPO, WiseEye, automotive OLED, microdisplay and TCON innovations) that could drive meaningful revenue and margin expansion in 2027 and beyond.Positive Updates
Q4 Revenue and Profit Beat Guidance
Q4 revenue of $203.1M represented a sequential increase of 2% (better than the flat QoQ guidance). Q4 after-tax profit was $6.3M ($0.036 per diluted ADS), which was at the high end of the guidance range ($0.02–$0.04). Gross margin for the quarter was 30.4%, in line with guidance.
Negative Updates
Full-Year Revenue Decline
Full-year 2025 revenue totaled $832.2M, a decline of 8.2% year over year compared to 2024.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Revenue and Profit Beat Guidance
Q4 revenue of $203.1M represented a sequential increase of 2% (better than the flat QoQ guidance). Q4 after-tax profit was $6.3M ($0.036 per diluted ADS), which was at the high end of the guidance range ($0.02–$0.04). Gross margin for the quarter was 30.4%, in line with guidance.
Read all positive updates
Company Guidance
Himax guided Q1 2026 revenue to decline 2%–6% sequentially, with gross margin expected to be flat to slightly down from Q4’s 30.4% (depending on product mix) and profit attributable to shareholders of $0.02–$0.04 per fully diluted ADS. By segment, the company expects large‑panel driver IC sales to rise single‑digit sequentially, small/medium display drivers to decline single‑digit, automotive driver ICs (DDIC+TDDI) to decline q/q after prior replenishment, smartphone and tablet ICs to grow q/q, and non‑driver ICs (including TCON) to be down single‑digit (Q4 mix: small/medium drivers 68.5% of revenue, large‑panel 10.7%, non‑driver 20.8%; automotive represents over half of total sales). Management said Q1 should be the trough with a rebound in Q2 and improving momentum into H2, and that CPO revenue will be limited in 2026 (sample shipments only) but could contribute meaningfully in 2027+ from a Gen‑2 >6.4T product (early MP potential in the “hundreds of millions” of dollars annually).Himax Technologies Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 832.17M | 906.80M | 945.43M | 1.20B | 1.55B |
| Gross Profit | 254.36M | 276.20M | 263.50M | 487.11M | 748.58M |
| EBITDA | 66.67M | 90.58M | 58.65M | 300.69M | 567.01M |
| Net Income | 43.94M | 79.75M | 50.62M | 236.98M | 436.90M |
Balance Sheet | |||||
| Total Assets | 1.74B | 1.64B | 1.64B | 1.70B | 1.60B |
| Cash, Cash Equivalents and Short-Term Investments | 854.52M | 224.57M | 206.38M | 229.90M | 364.38M |
| Total Debt | 596.77M | 545.36M | 498.14M | 420.02M | 208.50M |
| Total Liabilities | 832.88M | 743.19M | 779.70M | 807.94M | 731.21M |
| Stockholders Equity | 893.39M | 890.06M | 856.77M | 892.57M | 869.72M |
Cash Flow | |||||
| Free Cash Flow | 119.90M | 102.77M | 129.35M | 70.78M | 380.25M |
| Operating Cash Flow | 140.03M | 115.98M | 152.84M | 82.91M | 388.28M |
| Investing Cash Flow | -20.49M | -516.00K | -88.88M | 15.00M | -232.68M |
| Financing Cash Flow | -80.74M | -88.22M | -93.59M | -211.07M | -4.49M |
Himax Technologies Technical Analysis
Positive
11.10
Price Trends
8.44
Positive
8.35
Positive
8.47
Positive
Market Momentum
0.59
Negative
72.07
Negative
91.37
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HIMX, the sentiment is Positive. The current price of 11.1 is above the 20-day moving average (MA) of 8.99, above the 50-day MA of 8.44, and above the 200-day MA of 8.47, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 72.07 is Negative, neither overbought nor oversold. The STOCH value of 91.37 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HIMX.
Himax Technologies Risk Analysis
Himax Technologies disclosed 40 risk factors in its most recent earnings report. Himax Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Himax Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $2.82B | 12.15 | 11.84% | ― | -0.06% | -1.01% | |
64 Neutral | $2.89B | 47.89 | 4.13% | ― | -7.39% | -54.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $1.95B | 32.53 | 4.96% | 4.48% | -8.01% | -44.59% | |
59 Neutral | $6.05B | -8.44 | -28.42% | ― | 40.89% | 42.62% | |
58 Neutral | $3.28B | -37.25 | -24.06% | ― | -3.24% | -786.94% | |
58 Neutral | $3.57B | -12.55 | -30.27% | ― | -44.88% | -24.76% |
* Technology Sector Average
HIMX
Himax Technologies
11.45
4.65
68.26%
MXL
Maxlinear
67.52
57.53
575.88%
PLAB
Photronics
47.77
29.50
161.47%
UCTT
Ultra Clean Holdings
72.01
53.31
284.98%
VECO
Veeco
47.84
29.14
155.83%
NVTS
Navitas Semiconductor
15.48
13.55
702.07%
Himax Technologies Corporate Events
Himax Technologies Posts Solid Q4 2025, Sees Q1 2026 as Earnings Trough Before Rebound
Feb 12, 2026
Himax Technologies reported fourth-quarter 2025 revenue of $203.1 million, up 2% sequentially and ahead of guidance, with gross margin at 30.4% and earnings of 3.6 cents per diluted ADS at the top end of its forecast range. For full year 2025, rev...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.