Himax Technologies (HIMX) Given New $7.00 Price Target at Robert W. Baird

Himax Technologies (NASDAQ:HIMX) had its price objective cut by research analysts at Robert W. Baird from $10.00 to $7.00 in a report released on Thursday, The Fly reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s target price suggests a potential upside of 45.23% from the stock’s previous close.

Several other analysts also recently weighed in on HIMX. BidaskClub upgraded shares of Himax Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 17th. ValuEngine downgraded shares of Himax Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Cowen set a $7.00 target price on shares of Himax Technologies and gave the company a “hold” rating in a report on Thursday, August 9th. Macquarie downgraded shares of Himax Technologies from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Thursday, August 16th. Finally, Lake Street Capital set a $8.00 target price on shares of Himax Technologies and gave the company a “buy” rating in a report on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Himax Technologies currently has a consensus rating of “Hold” and a consensus target price of $8.71.

Shares of NASDAQ HIMX traded down $0.60 during midday trading on Thursday, reaching $4.82. 7,079,398 shares of the stock were exchanged, compared to its average volume of 2,743,462. The company has a market capitalization of $901.83 million, a P/E ratio of 30.13, a P/E/G ratio of 31.44 and a beta of -0.27. Himax Technologies has a twelve month low of $4.74 and a twelve month high of $13.95.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.01 earnings per share (EPS) 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 business had revenue of $181.40 million during the quarter, compared to the consensus estimate of $181.78 million. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that Himax Technologies will post 0.01 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Stelac Advisory Services LLC purchased a new position in Himax Technologies in the 3rd quarter valued at approximately $110,000. Russell Investments Group Ltd. purchased a new position in Himax Technologies in the 2nd quarter valued at approximately $153,000. Sheets Smith Wealth Management purchased a new position in Himax Technologies in the 2nd quarter valued at approximately $183,000. Engineers Gate Manager LP purchased a new position in Himax Technologies in the 2nd quarter valued at approximately $201,000. Finally, WESPAC Advisors SoCal LLC purchased a new position in Himax Technologies in the 2nd quarter valued at approximately $227,000. 22.92% of the stock is owned by 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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The Fly

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