Himax Technologies (HIMX) Sets New 1-Year Low on Analyst Downgrade

Himax Technologies, Inc. (NASDAQ:HIMX) reached a new 52-week low on Thursday after Robert W. Baird lowered their price target on the stock from $10.00 to $7.00. Robert W. Baird currently has an outperform rating on the stock. Himax Technologies traded as low as $4.86 and last traded at $4.81, with a volume of 99177 shares changing hands. The stock had previously closed at $5.42.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Himax Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Cowen set a $7.00 price objective on Himax Technologies and gave the company a “hold” rating in a report on Thursday, August 9th. Lake Street Capital set a $8.00 price objective on Himax Technologies and gave the company a “buy” rating in a report on Tuesday, September 25th. ValuEngine downgraded Himax Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Roth Capital raised Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Monday, October 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.71.

Institutional investors and hedge funds have recently made changes to their positions in the company. Stelac Advisory Services LLC acquired a new position in shares of Himax Technologies in the 3rd quarter worth approximately $110,000. Russell Investments Group Ltd. acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $153,000. Sheets Smith Wealth Management acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $183,000. Engineers Gate Manager LP acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $201,000. Finally, WESPAC Advisors SoCal LLC acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $227,000. 22.92% of the stock is currently owned by institutional investors and hedge funds.

The firm 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 (NASDAQ:HIMX) last posted its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $0.01 earnings per share for the quarter, hitting the 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 during the quarter, compared to analysts’ expectations of $181.78 million. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. Sell-side analysts forecast that Himax Technologies, Inc. will post 0.01 EPS for the current fiscal year.

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Himax Technologies Company Profile (NASDAQ:HIMX)

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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