Himax Technologies, Inc. (HIMX) Price Target Cut to $6.00

Himax Technologies, Inc. (NASDAQ:HIMX) had its price target cut by Robert W. Baird from $7.00 to $6.00 in a research note released on Friday. They currently have a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on HIMX. Credit Suisse Group AG lowered Himax Technologies from an outperform rating to a neutral rating and decreased their price objective for the company from $12.00 to $6.30 in a report on Wednesday, January 18th. Morgan Stanley lowered Himax Technologies from an equal weight rating to an underweight rating and set a $4.00 price objective on the stock. in a report on Monday, February 6th. Northland Securities upgraded Himax Technologies from a market perform rating to an outperform rating and set a $10.00 price objective on the stock in a report on Thursday, February 16th. Nomura upgraded Himax Technologies from a neutral rating to a buy rating in a report on Friday, February 17th. Finally, Oppenheimer Holdings Inc. restated a market perform rating on shares of Himax Technologies in a report on Monday, February 20th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $8.86.

Shares of Himax Technologies (NASDAQ:HIMX) opened at 6.54 on Friday. Himax Technologies has a 12 month low of $4.88 and a 12 month high of $10.95. The company has a 50-day moving average of $7.75 and a 200 day moving average of $7.08. The company has a market cap of $1.12 billion, a PE ratio of 22.17 and a beta of 0.90.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings data on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $162.26 million. Himax Technologies had a net margin of 6.77% and a return on equity of 11.71%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. On average, analysts anticipate that Himax Technologies will post $0.17 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of HIMX. Bank of New York Mellon Corp increased its stake 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 worth $130,000 after buying an additional 77 shares during the last quarter. US Bancorp DE increased its stake 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 worth $133,000 after buying an additional 100 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Himax Technologies by 3.5% in the first quarter. Sheets Smith Wealth Management now owns 29,180 shares of the semiconductor company’s stock worth $266,000 after buying an additional 1,000 shares during the last quarter. State Street Corp increased its stake in shares of Himax Technologies by 1.8% in the fourth quarter. State Street Corp now owns 114,302 shares of the semiconductor company’s stock worth $689,000 after buying an additional 2,046 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Himax Technologies by 4.2% in the first quarter. Creative Planning now owns 55,590 shares of the semiconductor company’s stock worth $507,000 after buying an additional 2,217 shares during the last quarter. Institutional investors and hedge funds own 38.30% of the company’s stock.

Himax Technologies Company Profile

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.

5 Day Chart for NASDAQ:HIMX

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