Himax Technologies’ (HIMX) Underperform Rating Reaffirmed at CIBC

CIBC reiterated their underperform rating on shares of Himax Technologies, Inc. (NASDAQ:HIMX) in a report published on Friday. They currently have a $4.00 price objective on the semiconductor company’s stock.

A number of other research firms have also commented on HIMX. Northland Securities restated an outperform rating and set a $10.00 price objective on shares of Himax Technologies in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated an underperform rating and set a $4.00 price objective (down previously from $8.00) on shares of Himax Technologies in a research note on Friday. Roth Capital upgraded Himax Technologies from a neutral rating to a buy rating in a research note on Friday, March 17th. Zacks Investment Research lowered Himax Technologies from a hold rating to a sell rating in a research note on Friday, May 19th. Finally, Robert W. Baird lowered their price objective on Himax Technologies from $7.00 to $6.00 and set a neutral rating on the stock in a research note on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $8.08.

Shares of Himax Technologies (NASDAQ:HIMX) traded up 1.11% during mid-day trading on Friday, reaching $8.18. The company had a trading volume of 2,229,172 shares. Himax Technologies has a 12-month low of $4.88 and a 12-month high of $10.95. Himax Technologies also was the recipient of unusually large options trading on Friday. Traders bought 9,637 put options on the company. This represents an increase of approximately 352% compared to the typical daily volume of 2,132 put options.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings data on Thursday, May 11th. The semiconductor company reported $0.01 EPS for the quarter, missing the Zacks’ 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 company had revenue of $155.20 million for the quarter, compared to the consensus estimate of $162.26 million. During the same quarter last year, the business earned $0.08 EPS. Himax Technologies’s revenue was down 13.9% on a year-over-year basis. Equities research analysts predict that Himax Technologies will post $0.10 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in HIMX. Private Advisor Group LLC purchased a new stake in Himax Technologies during the first quarter valued at $130,000. Bank of New York Mellon Corp increased its stake in 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 increased its stake in 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. Fox Run Management L.L.C. purchased a new stake in Himax Technologies during the first quarter valued at $148,000. Finally, Two Sigma Securities LLC purchased a new stake in Himax Technologies during the first quarter valued at $175,000. 22.46% of the stock is currently owned by institutional investors.

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.

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