Technology Sector Update for 02/13/2018: NVMI,EIGI,HIMX

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Technology stocks were edging lower Tuesday, with shares of tech companies in the S&P 500 slipping more than 0.2% in value while the Philadelphia semiconductor index was sinking nearly 0.7%.

Among technology stocks moving on news:

- Nova Measuring Instruments ( NVMI ) turned lower Tuesday afternoon, giving back a more than 2% advance as high as $26.10 a share that followed the metrology systems company reporting non-GAAP Q4 net income of $0.45 per share, improving on an adjusted $0.42 per share profit during the prior-year period and exceeding the Capital IQ consensus by $0.06 per share. Revenue rose to $57.4 million from $50.2 million last year, also beating the $55.1 million analyst mean. Nova also issued in-line Q1 forecasts, projecting non-GAAP net income of $0.34 to $0.45 per share on $54 million to $60 million in revenue for the current quarter ending March 31. Analysts, on average, are expecting the company to earn $0.40 per share, excluding one-time items, on $54.3 million in revenue.

In other sector news:

- Endurance International ( EIGI ) has slid to negative ground in recent trading, reversing a 3.3% gain earlier Tuesday that followed the company reporting Q4 net income of $0.05 per share, exceeding the Capital IQ consensus expecting a $0.15 per share loss. Revenue climbed to $294.3 million from $292.1 million last year, topping the $289.2 million mean estimate. Looking forward, Endurance is expecting between $1.14 billion to $1.16 billion in FY18 revenue, just shy of the $1.17 billion Street view.

- Himax Technologies ( HIMX ) has pared much of a 10% decline Tuesday that followed the fabless chipmaker reporting adjusted Q4 net income of $0.14 per American depositary share, matching the Capital IQ consensus call. Revenue fell to $181.1 million from $203.4 million last year, missing the $184.3 million Street view. Forecasts surprise Q1 net loss compared with analyst mean expecting $0.04 per share profit.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Technology , Commodities
Referenced Symbols: NVMI , EIGI , HIMX

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