Himax Technologies (HIMX) Trading Down 7.7% After Analyst Downgrade

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) dropped 7.7% during mid-day trading on Friday 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 $4.74 and last traded at $4.45. Approximately 3,373,167 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 2,078,963 shares. The stock had previously closed at $4.82.

A number of other analysts also recently weighed in on the stock. 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 report on Monday, October 1st. Zacks Investment Research upgraded shares of Himax Technologies from a “hold” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a report on Thursday, October 11th. BidaskClub upgraded shares of Himax Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 27th. Lake Street Capital set a $8.00 target price on shares of Himax Technologies and gave the stock a “buy” rating in a report on Tuesday, September 25th. Finally, Macquarie downgraded shares of Himax Technologies from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $6.00 in a report on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Himax Technologies presently has a consensus rating of “Hold” and a consensus price target of $7.99.

Institutional investors have recently bought and sold shares of the company. Stelac Advisory Services LLC bought a new stake in shares of Himax Technologies in the 3rd quarter worth about $110,000. Russell Investments Group Ltd. purchased a new position in shares of Himax Technologies during the 2nd quarter worth about $153,000. Sheets Smith Wealth Management purchased a new position in shares of Himax Technologies during the 2nd quarter worth about $183,000. Engineers Gate Manager LP purchased a new position in shares of Himax Technologies during the 2nd quarter worth about $201,000. Finally, WESPAC Advisors SoCal LLC purchased a new position in shares of Himax Technologies during the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 22.92% of the company’s stock.

The company has a market capitalization of $901.83 million, a P/E ratio of 27.56, a PEG ratio of 31.44 and a beta of -0.27.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Himax Technologies had a net margin of 3.66% and a return on equity of 6.12%. The firm had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $188.20 million. During the same period in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Himax Technologies, Inc. will post 0.01 EPS for the current fiscal year.

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About Himax Technologies (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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