Himax Technologies (NASDAQ:HIMX) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Himax Technologies (NASDAQ:HIMX) from a sell rating to a hold rating in a research report released on Tuesday morning, BidAskClub reports.

Several other analysts have also recently issued reports on HIMX. Roth Capital reissued a neutral rating and set a $3.50 price objective (down from $5.00) on shares of Himax Technologies in a research note on Friday, July 12th. Lake Street Capital decreased their price target on shares of Himax Technologies from $3.00 to $2.50 and set a hold rating for the company in a research report on Tuesday, September 17th. Credit Suisse Group cut shares of Himax Technologies from a neutral rating to an underperform rating in a research report on Friday, August 9th. Northland Securities reaffirmed a hold rating and set a $2.50 price target on shares of Himax Technologies in a research report on Friday, August 9th. Finally, ValuEngine raised shares of Himax Technologies from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $4.42.

Shares of HIMX opened at $2.36 on Tuesday. The stock has a fifty day moving average of $2.22 and a two-hundred day moving average of $2.89. The company has a market capitalization of $413.15 million, a PE ratio of 39.33 and a beta of 0.16. Himax Technologies has a fifty-two week low of $1.70 and a fifty-two week high of $6.25.

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

A number of institutional investors have recently made changes to their positions in the stock. TRUE Private Wealth Advisors purchased a new position in Himax Technologies in the 2nd quarter valued at about $26,000. US Bancorp DE raised its stake in shares of Himax Technologies by 947.1% in the 2nd quarter. US Bancorp DE now owns 11,047 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 9,992 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Himax Technologies by 2,600.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 15,000 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 15,600 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Himax Technologies in the 2nd quarter valued at about $53,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Himax Technologies by 87.8% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,911 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 7,904 shares in the last quarter. 8.99% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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