Himax Technologies (NASDAQ:HIMX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $7.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.64% from the company’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. “
HIMX has been the topic of a number of other reports. BidaskClub upgraded shares of Himax Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. ValuEngine lowered shares of Himax Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Macquarie lowered shares of Himax Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $6.00 in a research note on Thursday, August 16th. Roth Capital upgraded shares of Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Monday, October 1st. Finally, Lake Street Capital set a $8.00 target price on shares of Himax Technologies and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.41.
HIMX stock opened at $5.90 on Thursday. Himax Technologies has a fifty-two week low of $5.61 and a fifty-two week high of $13.95. The company has a market cap of $1.01 billion, a P/E ratio of 37.00 and a beta of -0.52.
Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, August 9th. The semiconductor company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. Himax Technologies had a net margin of 3.66% and a return on equity of 6.12%. The firm had revenue of $181.40 million for the quarter, compared to analyst estimates of $181.78 million. The firm’s revenue was up 19.6% compared to the same quarter last year. As a group, analysts predict that Himax Technologies will post -0.01 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC purchased a new position in Himax Technologies in the second quarter valued at approximately $1,188,000. Point72 Asset Management L.P. purchased a new position in Himax Technologies in the second quarter valued at approximately $3,886,000. Bank of America Corp DE increased its stake in Himax Technologies by 611.1% in the second quarter. Bank of America Corp DE now owns 551,903 shares of the semiconductor company’s stock valued at $4,117,000 after purchasing an additional 474,291 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Himax Technologies in the second quarter valued at approximately $383,000. Finally, Russell Investments Group Ltd. purchased a new position in Himax Technologies in the second quarter valued at approximately $153,000. Institutional investors own 23.43% of the company’s stock.
Himax Technologies Company Profile
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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