Himax Technologies (NASDAQ:HIMX) Upgraded to “Buy” at Roth Capital

Roth Capital upgraded shares of Himax Technologies (NASDAQ:HIMX) from a neutral rating to a buy rating in a research note released on Thursday morning, The Fly reports. They currently have price target on the semiconductor company’s stock, up from their previous price target of .

HIMX has been the subject of a number of other research reports. Northland Securities reaffirmed a hold rating and issued a $2.25 price target on shares of Himax Technologies in a research report on Friday, November 8th. Lake Street Capital boosted their price target on Himax Technologies from $5.00 to $6.50 and gave the stock a buy rating in a research report on Thursday. BidaskClub raised Himax Technologies from a buy rating to a strong-buy rating in a research report on Tuesday, February 4th. Credit Suisse Group raised Himax Technologies from an underperform rating to a neutral rating and set a $3.00 price target for the company in a research report on Sunday, January 5th. Finally, ValuEngine cut Himax Technologies from a buy rating to a hold rating in a research report on Saturday, January 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $4.65.

Shares of NASDAQ:HIMX traded down $0.04 on Thursday, reaching $4.84. The company had a trading volume of 2,746,141 shares, compared to its average volume of 2,228,021. Himax Technologies has a twelve month low of $1.70 and a twelve month high of $5.05. The stock has a 50-day moving average price of $3.72 and a 200 day moving average price of $2.71. The stock has a market capitalization of $759.16 million, a P/E ratio of -161.33 and a beta of 0.29.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Himax Technologies had a negative return on equity of 1.15% and a negative net margin of 0.90%. The company had revenue of $174.90 million during the quarter, compared to analysts’ expectations of $174.90 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Himax Technologies will post -0.11 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC lifted its position in shares of Himax Technologies by 24.1% during the 3rd quarter. Virtu Financial LLC now owns 95,941 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 18,625 shares during the last quarter. Morgan Stanley lifted its position in shares of Himax Technologies by 111.5% during the 2nd quarter. Morgan Stanley now owns 1,233,797 shares of the semiconductor company’s stock worth $4,294,000 after purchasing an additional 650,517 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Himax Technologies by 13.2% during the 3rd quarter. California Public Employees Retirement System now owns 310,000 shares of the semiconductor company’s stock worth $704,000 after purchasing an additional 36,100 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Himax Technologies during the 2nd quarter worth about $53,000. Finally, Stifel Financial Corp lifted its position in shares of Himax Technologies by 6.0% during the 3rd quarter. Stifel Financial Corp now owns 930,576 shares of the semiconductor company’s stock worth $2,115,000 after purchasing an additional 52,816 shares during the last quarter. 6.63% of the stock is owned by institutional investors and hedge funds.

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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