NEW YORK (TheStreet) -- Himax Technologies (HIMX) was falling -8.4% to $7.05 Friday after missing analysts' estimates for earnings in the first quarter and guiding below estimates for the second quarter.
For the first quarter Himax reported earnings of 9 cents a share, missing the Capital IQ Consensus Estimate of 10 cents a share by 1 cent. Revenue grew 10.7% from the year-ago quarter to $194.6 million. Analysts expected revenue of $194.2 million for the quarter.
Looking forward to the second quarter Himax expects revenue of $194.6 million, below analysts' estimates of $223.2 million in revenue. The company expects earnings of 13.2 cents to 15.2 cents for the second quarter due to a 5 cent gain from selling a stake in a U.S. display company. Analysts expect earnings of 13 cents a share in the quarter.
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TheStreet Ratings team rates HIMAX TECHNOLOGIES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HIMAX TECHNOLOGIES INC (HIMX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."