Himax Technologies (NASDAQ:HIMX) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a strong-buy rating in a research report report published on Monday morning, Zacks.com reports. They currently have $4.50 target price on the semiconductor company’s stock.

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. “

Other equities research analysts have also recently issued research reports about the company. Northland Securities restated a hold rating and issued a $2.25 target price on shares of Himax Technologies in a research note on Friday, November 8th. BidaskClub upgraded Himax Technologies from a hold rating to a buy rating in a research note on Tuesday, January 7th. TheStreet cut Himax Technologies from a c- rating to a d rating in a research note on Friday, November 8th. ValuEngine cut Himax Technologies from a buy rating to a hold rating in a research note on Tuesday, November 19th. Finally, Credit Suisse Group upgraded Himax Technologies from an underperform rating to a neutral rating and set a $3.00 target price on the stock in a research note on Sunday, January 5th. Five research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $3.15.

NASDAQ HIMX opened at $3.87 on Monday. The stock has a market capitalization of $652.45 million, a price-to-earnings ratio of 64.50 and a beta of 0.32. The stock’s 50 day moving average price is $2.77 and its two-hundred day moving average price is $2.59. Himax Technologies has a 52 week low of $1.70 and a 52 week high of $4.15.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, November 7th. The semiconductor company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $159.68 million. Himax Technologies had a negative return on equity of 1.15% and a negative net margin of 0.90%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. Sell-side analysts forecast that Himax Technologies will post -0.11 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the business. US Bancorp DE increased its position in shares of Himax Technologies by 947.1% during the 2nd quarter. US Bancorp DE now owns 11,047 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 9,992 shares during the last quarter. TRUE Private Wealth Advisors increased its position in shares of Himax Technologies by 142.9% during the 3rd quarter. TRUE Private Wealth Advisors now owns 18,700 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 11,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Himax Technologies during the 2nd quarter worth approximately $53,000. Virtu Financial LLC increased its position in shares of Himax Technologies by 24.1% during the 3rd quarter. Virtu Financial LLC now owns 95,941 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 18,625 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Himax Technologies by 13.2% during the 3rd quarter. California Public Employees Retirement System now owns 310,000 shares of the semiconductor company’s stock worth $704,000 after purchasing an additional 36,100 shares during the last quarter. 6.76% of the stock is currently owned by hedge funds and other institutional investors.

About Himax Technologies

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies worldwide. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.

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