Himax Technologies, Inc. (NASDAQ:HIMX) was upgraded by Credit Suisse Group from a “neutral” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $11.00 target price on the semiconductor company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 30.80% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Nomura set a $9.00 target price on shares of Himax Technologies and gave the stock a “buy” rating in a research report on Saturday, May 13th. Vetr downgraded shares of Himax Technologies from a “strong-buy” rating to a “buy” rating and set a $9.34 price target on the stock. in a research report on Thursday, June 8th. Cann initiated coverage on shares of Himax Technologies in a research report on Friday, July 14th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Himax Technologies from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Himax Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Himax Technologies currently has an average rating of “Hold” and an average price target of $8.58.

Shares of Himax Technologies (HIMX) traded up 1.45% during midday trading on Friday, reaching $8.41. 4,722,514 shares of the company’s stock traded hands. The company has a market cap of $1.45 billion, a P/E ratio of 37.05 and a beta of 0.85. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95.

Himax Technologies (NASDAQ:HIMX) last posted its earnings results on Thursday, May 11th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. Himax Technologies had a return on equity of 4.15% and a net margin of 2.58%. The business had revenue of $155.20 million for the quarter, compared to analyst estimates of $162.26 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. Equities analysts anticipate that Himax Technologies will post $0.09 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. Creative Planning increased its position in Himax Technologies by 4.2% in the first quarter. Creative Planning now owns 55,590 shares of the semiconductor company’s stock worth $507,000 after buying an additional 2,217 shares during the last quarter. Sheets Smith Wealth Management increased its position in Himax Technologies by 3.5% in the first quarter. Sheets Smith Wealth Management now owns 29,180 shares of the semiconductor company’s stock worth $266,000 after buying an additional 1,000 shares during the last quarter. Bank of Montreal Can increased its position 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. Fox Run Management L.L.C. bought a new position in Himax Technologies during the first quarter worth about $148,000. Finally, Canada Pension Plan Investment Board increased its position 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. Institutional investors own 22.50% 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.

Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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