Zacks Investment Research Upgrades Himax Technologies (HIMX) to Buy

Himax Technologies (NASDAQ:HIMX) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $12.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.15% from the stock’s previous close.

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 also recently weighed in on HIMX. BidaskClub downgraded Himax Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Robert W. Baird boosted their price target on Himax Technologies from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Vetr downgraded Himax Technologies from a “buy” rating to a “hold” rating and set a $13.60 price target for the company. in a report on Thursday, November 23rd. Instinet reiterated a “buy” rating and issued a $12.00 price target on shares of Himax Technologies in a report on Friday, October 13th. Finally, Lake Street Capital set a $13.00 price target on Himax Technologies and gave the company a “buy” rating in a report on Thursday, December 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $10.93.

Shares of Himax Technologies (HIMX) traded down $0.01 during midday trading on Friday, hitting $10.70. The stock had a trading volume of 2,895,203 shares, compared to its average volume of 3,684,557. Himax Technologies has a 1-year low of $4.88 and a 1-year high of $13.95. The company has a market cap of $1,841.51, a P/E ratio of 178.36, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85.

Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp bought a new position in Himax Technologies during the 2nd quarter worth $126,000. Private Advisor Group LLC grew its stake in Himax Technologies by 19.7% during the 2nd quarter. Private Advisor Group LLC now owns 17,300 shares of the semiconductor company’s stock worth $141,000 after buying an additional 2,850 shares during the last quarter. Northern Trust Corp grew its stake in Himax Technologies by 9.7% during the 2nd quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,583 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Himax Technologies during the 2nd quarter worth $145,000. Finally, Janney Montgomery Scott LLC bought a new position in Himax Technologies during the 3rd quarter worth $193,000. Hedge funds and other institutional investors own 26.90% of the company’s stock.

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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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