Himax Technologies, Inc. (NASDAQ:HIMX) Stock Rating Upgraded by Robert W. Baird
Himax Technologies, Inc. (NASDAQ:HIMX) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $10.00 price objective on the semiconductor company’s stock, up from their previous price objective of $6.00. Robert W. Baird’s price target suggests a potential upside of 18.91% from the stock’s current price.
HIMX has been the topic of a number of other research reports. Nomura set a $9.00 price target on shares of Himax Technologies and gave the company a “buy” rating in a report on Saturday, May 13th. Northland Securities restated an “outperform” rating and issued a $10.00 target price on shares of Himax Technologies in a report on Wednesday, April 26th. Lake Street Capital cut shares of Himax Technologies from a “buy” rating to a “hold” rating and set a $7.50 target price on the stock. in a report on Thursday, May 11th. ValuEngine cut shares of Himax Technologies from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. Finally, Zacks Investment Research cut shares of Himax Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Himax Technologies currently has a consensus rating of “Hold” and an average target price of $8.58.
Himax Technologies (NASDAQ:HIMX) traded up 1.45% during midday trading on Friday, hitting $8.41. 4,722,514 shares of the company were exchanged. The company has a market cap of $1.45 billion, a PE ratio of 37.05 and a beta of 0.85. Himax Technologies has a 1-year low of $4.88 and a 1-year high of $10.95.
Himax Technologies (NASDAQ:HIMX) last posted its quarterly 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 net margin of 2.58% and a return on equity of 4.15%. The firm had revenue of $155.20 million for the quarter, compared to analysts’ expectations of $162.26 million. During the same quarter in the previous year, the company earned $0.08 EPS. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. Equities research analysts anticipate that Himax Technologies will post $0.09 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. Bank of New York Mellon Corp increased its position in Himax Technologies by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 14,223 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 77 shares during the last quarter. US Bancorp DE increased its position in Himax Technologies by 0.7% in the first quarter. US Bancorp DE now owns 14,598 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 100 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 valued at $266,000 after buying an additional 1,000 shares during the last quarter. 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 valued at $507,000 after buying an additional 2,217 shares during the last quarter. Finally, Capital Investment Counsel Inc acquired a new position in Himax Technologies during the second quarter valued at $109,000. Institutional investors and hedge funds own 22.50% of the company’s stock.
Himax Technologies Company Profile
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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