Himax Technologies, Inc. (HIMX) Receives Underperform Rating from CIBC

CIBC reaffirmed their underperform rating on shares of Himax Technologies, Inc. (NASDAQ:HIMX) in a research note published on Friday, July 14th. CIBC currently has a $4.00 target price on the semiconductor company’s stock.

HIMX has been the subject of several other reports. Nomura set a $9.00 price objective on Himax Technologies and gave the stock a buy rating in a research note on Saturday, May 13th. Northland Securities restated an outperform rating and issued a $10.00 price objective on shares of Himax Technologies in a research note on Wednesday, April 26th. Lake Street Capital lowered Himax Technologies from a buy rating to a hold rating and set a $7.50 price objective for the company. in a research note on Thursday, May 11th. ValuEngine lowered Himax Technologies from a hold rating to a sell rating in a research note on Thursday, May 18th. Finally, Cann assumed coverage on Himax Technologies in a research note on Friday, July 14th. They issued a buy rating for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $8.58.

Himax Technologies (NASDAQ:HIMX) opened at 8.16 on Friday. Himax Technologies has a one year low of $4.88 and a one year high of $10.95.

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 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 4.24% and a net margin of 2.58%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. Equities analysts predict that Himax Technologies will post $0.11 EPS for the current fiscal year.

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The business also recently announced an annual dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, July 27th. This is a positive change from Himax Technologies’s previous annual dividend of $0.12. This represents a dividend yield of 2.71%. Himax Technologies’s dividend payout ratio (DPR) is 191.68%.

Several institutional investors have recently modified their holdings of HIMX. Creative Planning raised its position 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 valued at $507,000 after buying an additional 2,217 shares during the last quarter. Sheets Smith Wealth Management raised its position 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 valued at $266,000 after buying an additional 1,000 shares during the last quarter. Bank of Montreal Can raised its position in shares of Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock valued at $2,007,000 after buying an additional 170,000 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Himax Technologies during the first quarter valued at about $148,000. Finally, Canada Pension Plan Investment Board raised its position in shares of 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 valued at $1,902,000 after buying an additional 200,000 shares during the last quarter. 22.40% of the stock is currently owned by institutional investors and hedge funds.

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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