Zacks Investment Research Upgrades Himax Technologies (NASDAQ:HIMX) to “Hold”

Himax Technologies (NASDAQ:HIMX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, 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. “

Several other equities analysts have also recently issued reports on the company. Roth Capital reiterated a “neutral” rating and set a $3.50 price target (down from $5.00) on shares of Himax Technologies in a research report on Friday, July 12th. BidaskClub upgraded Himax Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th. ValuEngine cut Himax Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Northland Securities reiterated a “hold” rating and set a $2.50 price target on shares of Himax Technologies in a research report on Friday, August 9th. Finally, Credit Suisse Group cut Himax Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.67.



HIMX traded down $0.12 during trading hours on Friday, hitting $2.39. The company’s stock had a trading volume of 377,611 shares, compared to its average volume of 1,470,047. Himax Technologies has a fifty-two week low of $1.70 and a fifty-two week high of $6.66. The firm has a market capitalization of $411.43 million, a PE ratio of 39.83 and a beta of 0.06. The company has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $3.12.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, meeting the 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 for the quarter, compared to analysts’ expectations of $170.16 million. During the same period last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts expect that Himax Technologies will post -0.17 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Himax Technologies by 111.5% in the 2nd quarter. Morgan Stanley now owns 1,233,797 shares of the semiconductor company’s stock worth $4,294,000 after acquiring an additional 650,517 shares during the last quarter. Creative Planning acquired a new position in shares of Himax Technologies in the 2nd quarter worth $2,306,000. SG Americas Securities LLC grew its holdings in shares of Himax Technologies by 24.9% in the 2nd quarter. SG Americas Securities LLC now owns 468,205 shares of the semiconductor company’s stock worth $1,629,000 after acquiring an additional 93,385 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Himax Technologies by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 435,142 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 102,071 shares during the last quarter. Finally, Mondrian Capital Management LLC acquired a new position in shares of Himax Technologies in the 2nd quarter worth $1,131,000. Institutional investors own 9.01% of the company’s stock.

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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