Zacks Investment Research upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. The brokerage currently has $4.00 price objective 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. “
Other equities analysts also recently issued reports about the company. 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 note on Thursday, May 30th. BidaskClub raised Zai Lab from a sell rating to a hold rating in a research note on Wednesday, June 5th. Finally, Northland Securities set a $50.00 price objective on Polarityte and gave the company a buy rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $5.19.
Shares of HIMX stock opened at $3.12 on Thursday. The stock has a market cap of $537.09 million, a P/E ratio of 52.00 and a beta of 0.06. The stock’s 50 day simple moving average is $3.33. Himax Technologies has a 12-month low of $2.83 and a 12-month high of $8.20.
Himax Technologies (NASDAQ:HIMX) last issued its earnings results on Thursday, May 9th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping 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 business had revenue of $163.33 million during the quarter, compared to the consensus estimate of $157.95 million. During the same period in the prior year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts forecast that Himax Technologies will post -0.14 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in Himax Technologies during the 4th quarter valued at $38,000. Hsbc Holdings PLC raised its holdings in Himax Technologies by 662.3% during the 4th 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 raised its holdings in Himax Technologies by 18.3% during the 4th 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 raised its holdings in Himax Technologies by 167.5% during the 4th 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. raised its holdings in Himax Technologies by 9.2% during the 1st 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 hedge funds and other institutional investors.
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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