Himax Technologies, Inc. (NASDAQ:HIMX) had its target price reduced by Robert W. Baird from $7.00 to $6.00 in a research report released on Friday, May 12th. They currently have a neutral rating on the semiconductor company’s stock.
Several other research analysts have also recently commented on HIMX. Credit Suisse Group cut Himax Technologies from an outperform rating to a neutral rating and cut their price target for the stock from $12.00 to $6.30 in a research note on Wednesday, January 18th. Morgan Stanley cut Himax Technologies from an equal weight rating to an underweight rating and set a $4.00 price objective on the stock. in a research note 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 research note on Thursday, February 16th. Nomura upgraded Himax Technologies from a neutral rating to a buy rating in a research report on Friday, February 17th. Finally, Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Himax Technologies in a research report on Monday, February 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $8.72.
Himax Technologies (NASDAQ:HIMX) traded up 7.97% during mid-day trading on Friday, hitting $8.13. The company had a trading volume of 8,084,495 shares. The company has a 50-day moving average price of $7.21 and a 200 day moving average price of $7.06. The company has a market capitalization of $1.40 billion, a P/E ratio of 35.81 and a beta of 0.78. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95.
Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, May 11th. The semiconductor company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Himax Technologies had a return on equity of 8.59% and a net margin of 5.04%. The business had revenue of $155.20 million during the quarter, compared to analyst estimates of $162.26 million. During the same quarter last year, the firm posted $0.08 EPS. The company’s revenue was down 13.9% compared to the same quarter last year. On average, analysts forecast that Himax Technologies will post $0.07 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in HIMX. Fox Run Management L.L.C. acquired a new position in shares of Himax Technologies during the first quarter worth approximately $148,000. Creative Planning boosted its position in 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 period. Bank of Montreal Can boosted its position in Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock worth $2,007,000 after buying an additional 170,000 shares during the period. Canada Pension Plan Investment Board boosted its position in Himax Technologies by 2,325.6% in the first quarter. Canada Pension Plan Investment Board now owns 208,600 shares of the semiconductor company’s stock worth $1,902,000 after buying an additional 200,000 shares during the period. Finally, Tairen Capital Ltd purchased a new position in Himax Technologies during the first quarter worth about $999,000. Hedge funds and other institutional investors own 22.56% 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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