Zacks Investment Research Upgrades Himax Technologies (NASDAQ:HIMX) to “Buy”

Zacks Investment Research upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. Zacks Investment Research currently has $4.00 price target 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. “

HIMX has been the topic of a number of other research reports. Northland Securities set a $50.00 price objective on Polarityte and gave the company a buy rating in a research report on Friday, May 10th. Roth Capital raised Himax Technologies from a neutral rating to a buy rating and raised their price objective for the company from $4.00 to $5.00 in a research report on Thursday, May 30th. Finally, BidaskClub raised Zai Lab from a sell rating to a hold rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $5.19.

Shares of HIMX stock opened at $3.12 on Thursday. Himax Technologies has a 1-year low of $2.83 and a 1-year high of $8.20. The company’s 50-day moving average is $3.33. The company has a market capitalization of $537.09 million, a P/E ratio of 52.00 and a beta of 0.06.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Himax Technologies had a return on equity of 2.36% and a net margin of 1.25%. The company had revenue of $163.33 million for the quarter, compared to the consensus estimate of $157.95 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Himax Technologies will post -0.14 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank bought a new position in Himax Technologies during the fourth quarter valued at about $38,000. Hsbc Holdings PLC grew its position in Himax Technologies by 662.3% during the fourth quarter. Hsbc Holdings PLC now owns 297,072 shares of the semiconductor company’s stock valued at $1,019,000 after buying an additional 258,104 shares during the period. Stifel Financial Corp grew its position in Himax Technologies by 18.3% during the fourth quarter. Stifel Financial Corp now owns 393,605 shares of the semiconductor company’s stock valued at $1,327,000 after buying an additional 60,760 shares during the period. Yiheng Capital LLC grew its position in Himax Technologies by 167.5% during the fourth quarter. Yiheng Capital LLC now owns 3,411,152 shares of the semiconductor company’s stock valued at $11,700,000 after buying an additional 2,136,120 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Himax Technologies by 9.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,989 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 4,529 shares during the period. 9.54% of the stock is owned by institutional investors and hedge funds.

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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