Lake Street Capital Cuts Himax Technologies (NASDAQ:HIMX) Price Target to $2.50

Himax Technologies (NASDAQ:HIMX) had its target price reduced by Lake Street Capital from $3.00 to $2.50 in a research note released on Tuesday, The Fly reports. They currently have a hold rating on the semiconductor company’s stock.

HIMX has been the topic of a number of other reports. Roth Capital reissued a neutral rating and set a $3.50 target price (down from $5.00) on shares of Himax Technologies in a research report on Friday, July 12th. Credit Suisse Group cut shares of Himax Technologies from a neutral rating to an underperform rating in a research report on Friday, August 9th. ValuEngine cut shares of Himax Technologies from a hold rating to a sell rating in a research report on Wednesday, September 4th. Zacks Investment Research raised shares of Himax Technologies from a sell rating to a hold rating in a research report on Friday, September 13th. Finally, Northland Securities reissued a hold rating and set a $2.50 target price on shares of Himax Technologies in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $4.42.

Shares of HIMX stock opened at $2.26 on Tuesday. The stock has a market cap of $406.26 million, a price-to-earnings ratio of 37.67 and a beta of 0.06. Himax Technologies has a fifty-two week low of $1.70 and a fifty-two week high of $6.66. The firm’s 50 day moving average price is $2.30 and its two-hundred day moving average price is $3.08.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Himax Technologies had a net margin of 0.26% and a return on equity of 0.76%. The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $170.16 million. During the same period in the previous year, the company posted $0.01 earnings per share. Himax Technologies’s revenue was down 6.7% compared to the same quarter last year. On average, research analysts anticipate that Himax Technologies will post -0.17 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in shares of Himax Technologies during the second quarter worth $267,000. Mondrian Capital Management LLC bought a new stake in shares of Himax Technologies in the second quarter worth $1,131,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Himax Technologies by 87.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,911 shares of the semiconductor company’s stock worth $59,000 after buying an additional 7,904 shares during the last quarter. Creative Planning bought a new stake in shares of Himax Technologies in the second quarter worth $2,306,000. Finally, Aperio Group LLC increased its stake in shares of Himax Technologies by 178.1% in the second quarter. Aperio Group LLC now owns 41,321 shares of the semiconductor company’s stock worth $144,000 after buying an additional 26,462 shares during the last quarter. 8.99% of the stock is currently 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.

Further Reading: What is the formula for calculating total return?

The Fly

Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

Receive News & Ratings for Himax Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Himax Technologies and related companies with MarketBeat.com's FREE daily email newsletter.