Himax Technologies (NASDAQ:HIMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Himax Technologies, Inc. designs, develops and markets semiconductors that are critical components of flat panel displays. The Company’s principal products are display drivers for large-sized TFT-LCD panels, which are used in desktop monitors, notebook computers and televisions, and display drivers for small- and medium-sized TFT-LCD panels, which are used in mobile handsets and consumer electronics products such as digital cameras, mobile gaming devices and car navigation displays. In addition, the Company is expanding its product offering to include LCD TV chipset solutions and LCOS microdisplays. “
A number of other brokerages have also commented on HIMX. BidaskClub lowered shares of Himax Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Robert W. Baird increased their price objective on shares of Himax Technologies from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Vetr lowered shares of Himax Technologies from a “buy” rating to a “hold” rating and set a $13.60 price objective on the stock. in a report on Thursday, November 23rd. Lake Street Capital set a $13.00 price objective on shares of Himax Technologies and gave the stock a “buy” rating in a report on Thursday, December 28th. Finally, Roth Capital decreased their price objective on shares of Himax Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Himax Technologies has a consensus rating of “Hold” and a consensus price target of $10.86.
Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Himax Technologies had a return on equity of 6.41% and a net margin of 4.08%. The company had revenue of $181.10 million for the quarter, compared to the consensus estimate of $184.30 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue was down 11.0% compared to the same quarter last year. equities analysts anticipate that Himax Technologies will post 0.24 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in HIMX. Bank of New York Mellon Corp lifted its position in Himax Technologies by 209.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,027 shares of the semiconductor company’s stock valued at $362,000 after purchasing an additional 29,804 shares during the period. Northern Trust Corp lifted its position in Himax Technologies by 9.7% during the 2nd quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 1,583 shares during the period. Stifel Financial Corp acquired a new position in Himax Technologies during the 2nd quarter valued at about $126,000. State Street Corp lifted its position in Himax Technologies by 9.6% during the 2nd quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 10,969 shares during the period. Finally, First Trust Advisors LP acquired a new position in Himax Technologies during the 3rd quarter valued at about $451,000. Institutional investors own 33.87% of the company’s stock.
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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