Zacks Investment Research Lowers Himax Technologies (NASDAQ:HIMX) to Hold

Zacks Investment Research downgraded shares of Himax Technologies (NASDAQ:HIMX) from a buy rating to a hold rating in a research note released on Saturday, Zacks.com reports.

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. “

A number of other research analysts have also recently weighed in on the stock. ValuEngine raised shares of Himax Technologies from a hold rating to a buy rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Himax Technologies from a strong sell rating to a sell rating in a research note on Wednesday, July 24th. Northland Securities reiterated a hold rating and set a $2.50 price objective on shares of Himax Technologies in a research note on Friday, August 9th. Credit Suisse Group lowered shares of Himax Technologies from a neutral rating to an underperform rating in a research note on Friday, August 9th. Finally, Roth Capital reiterated a neutral rating and set a $3.50 price objective (down previously from $5.00) on shares of Himax Technologies in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Himax Technologies presently has a consensus rating of Hold and an average target price of $4.86.



Shares of HIMX stock opened at $2.24 on Friday. The firm has a market capitalization of $387.34 million, a PE ratio of 37.33 and a beta of 0.04. Himax Technologies has a fifty-two week low of $2.22 and a fifty-two week high of $6.66. The firm’s 50 day simple moving average is $3.14.

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). The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $170.16 million. Himax Technologies had a net margin of 0.26% and a return on equity of 0.76%. Himax Technologies’s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, sell-side analysts expect that Himax Technologies will post -0.14 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HIMX. Creative Planning purchased a new stake in shares of Himax Technologies during the second quarter valued at approximately $2,306,000. Mondrian Capital Management LLC purchased a new stake in shares of Himax Technologies during the second quarter valued at approximately $1,131,000. JPMorgan Chase & Co. raised its stake in shares of Himax Technologies by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 435,142 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 102,071 shares during the period. SG Americas Securities LLC raised its stake in shares of Himax Technologies by 24.9% during the second quarter. SG Americas Securities LLC now owns 468,205 shares of the semiconductor company’s stock valued at $1,629,000 after purchasing an additional 93,385 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of Himax Technologies during the second quarter valued at approximately $267,000. Institutional investors own 10.26% of the company’s stock.

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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