Himax Technologies, Inc. (HIMX) Downgraded to “Sell” at Rosenblatt Securities
Himax Technologies, Inc. (NASDAQ:HIMX) was downgraded by stock analysts at Rosenblatt Securities from a “neutral” rating to a “sell” rating in a report issued on Friday. They presently have a $6.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective points to a potential downside of 32.28% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Nomura set a $9.00 target price on Himax Technologies and gave the stock a “buy” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. reaffirmed an “underperform” rating and set a $4.00 target price (down previously from $8.00) on shares of Himax Technologies in a report on Friday, July 14th. CIBC reaffirmed an “underperform” rating and set a $4.00 target price on shares of Himax Technologies in a report on Friday, July 14th. Lake Street Capital downgraded Himax Technologies from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a report on Thursday, May 11th. Finally, ValuEngine raised Himax Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.02.
Shares of Himax Technologies (NASDAQ HIMX) traded down 0.45% during trading on Friday, hitting $8.82. 1,298,508 shares of the stock traded hands. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95.
Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, May 11th. The semiconductor company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. Himax Technologies had a return on equity of 8.59% and a net margin of 5.04%. The firm had revenue of $155.20 million for the quarter, compared to analyst estimates of $162.26 million. During the same period last year, the firm earned $0.08 EPS. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. Analysts expect that Himax Technologies will post $0.10 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Himax Technologies by 4.2% in the first quarter. Creative Planning now owns 55,590 shares of the semiconductor company’s stock valued at $507,000 after buying an additional 2,217 shares during the last quarter. Sheets Smith Wealth Management increased its position in shares of Himax Technologies by 3.5% in the first quarter. Sheets Smith Wealth Management now owns 29,180 shares of the semiconductor company’s stock valued at $266,000 after buying an additional 1,000 shares during the last quarter. Bank of Montreal Can increased its position in shares of Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock valued at $2,007,000 after buying an additional 170,000 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Himax Technologies during the first quarter valued at $148,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Himax Technologies by 2,325.6% in the first quarter. Canada Pension Plan Investment Board now owns 208,600 shares of the semiconductor company’s stock valued at $1,902,000 after buying an additional 200,000 shares during the last quarter. 22.46% of the stock is owned by institutional investors and hedge funds.
About Himax Technologies
Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.
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