Himax Technologies, Inc. (NASDAQ:HIMX) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Friday. The brokerage currently has a $10.00 price target on the semiconductor company’s stock, up from their previous price target of $6.00. Robert W. Baird’s price objective points to a potential upside of 18.91% from the company’s current price.
Several other brokerages also recently commented on HIMX. Macquarie reissued an “outperform” rating and issued a $10.30 price objective on shares of Himax Technologies in a research note on Saturday, July 22nd. Rosenblatt Securities downgraded Himax Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $7.00 to $6.00 in a research note on Friday, July 21st. Vetr downgraded Himax Technologies from a “strong-buy” rating to a “buy” rating and set a $9.34 price objective for the company. in a research note on Thursday, June 8th. Zacks Investment Research downgraded Himax Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine raised Himax Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.58.
Himax Technologies (NASDAQ HIMX) traded up 1.45% on Friday, reaching $8.41. The company’s stock had a trading volume of 4,722,514 shares. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95. The company has a market capitalization of $1.45 billion, a P/E ratio of 37.05 and a beta of 0.85.
Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, May 11th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. The company had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $162.26 million. Himax Technologies had a return on equity of 4.15% and a net margin of 2.58%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. On average, analysts forecast that Himax Technologies will post $0.09 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Capital Investment Counsel Inc purchased a new position in shares of Himax Technologies during the second quarter valued at $109,000. Private Advisor Group LLC purchased a new position in shares of Himax Technologies during the first quarter valued at $130,000. Bank of New York Mellon Corp raised its position in shares of Himax Technologies by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 14,223 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 77 shares during the period. US Bancorp DE raised its position in shares of Himax Technologies by 0.7% in the first quarter. US Bancorp DE now owns 14,598 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 100 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Himax Technologies during the first quarter valued at $148,000. 22.50% of the stock is owned by institutional investors and hedge funds.
About Himax Technologies
Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.
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