Himax Technologies’ (HIMX) “Outperform” Rating Reaffirmed at Macquarie
Himax Technologies, Inc. (NASDAQ:HIMX)‘s stock had its “outperform” rating reiterated by investment analysts at Macquarie in a research report issued to clients and investors on Saturday. They currently have a $10.30 target price on the semiconductor company’s stock. Macquarie’s price objective would indicate a potential upside of 14.96% from the stock’s current price.
Several other analysts also recently issued reports on the company. Nomura set a $9.00 price target on Himax Technologies and gave the company a “buy” rating in a research note on Saturday, May 13th. Vetr downgraded Himax Technologies from a “strong-buy” rating to a “buy” rating and set a $9.34 price target for the company. in a research note on Thursday, June 8th. Cann initiated coverage on Himax Technologies in a research note on Friday, July 14th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Himax Technologies from a “sell” rating to a “hold” rating and set a $9.00 price target for the company in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Himax Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.92.
Shares of Himax Technologies (NASDAQ HIMX) traded up 1.13% on Friday, reaching $8.96. The company had a trading volume of 5,626,795 shares. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95. The company has a market capitalization of $1.54 billion, a PE ratio of 39.47 and a beta of 0.84.
Himax Technologies (NASDAQ:HIMX) last posted its earnings results on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $155.20 million for the quarter, compared to analyst estimates of $162.26 million. Himax Technologies had a return on equity of 8.59% and a net margin of 5.04%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts forecast that Himax Technologies will post $0.10 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in HIMX. Kayak Investment Partners LLC bought a new stake in Himax Technologies during the first quarter worth $19,649,000. Point72 Asset Management L.P. bought a new stake in Himax Technologies during the first quarter worth $9,279,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Himax Technologies during the first quarter worth $3,010,000. Canada Pension Plan Investment Board increased its stake in 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 worth $1,902,000 after buying an additional 200,000 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock worth $2,007,000 after buying an additional 170,000 shares during the last quarter. Hedge funds and other institutional investors own 22.46% of the company’s stock.
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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