Himax Technologies, Inc. (NASDAQ:HIMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Other analysts also recently issued research reports about the stock. Northland Securities reissued an “outperform” rating and issued a $15.00 price target (up previously from $12.00) on shares of Himax Technologies in a research report on Thursday, September 14th. Oppenheimer Holdings, Inc. reissued an “underperform” rating and issued a $4.00 price target (down previously from $8.00) on shares of Himax Technologies in a research report on Friday, July 14th. Vetr downgraded shares of Himax Technologies from a “strong-buy” rating to a “buy” rating and set a $11.54 price target for the company. in a research report on Monday, September 25th. CIBC reissued an “underperform” rating and issued a $4.00 price target on shares of Himax Technologies in a research report on Friday, July 14th. Finally, Instinet reissued a “buy” rating and issued a $12.00 price target (up previously from $10.00) on shares of Himax Technologies in a research report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $10.03.

Shares of Himax Technologies (NASDAQ:HIMX) traded up 3.78% on Tuesday, reaching $10.16. 7,250,596 shares of the company traded hands. Himax Technologies has a one year low of $4.88 and a one year high of $11.97. The company has a market capitalization of $1.75 billion, a PE ratio of 93.21 and a beta of 0.79. The firm has a 50-day moving average price of $10.27 and a 200 day moving average price of $8.54.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Standard Life Investments LTD raised its stake in shares of Himax Technologies by 30.5% during the 3rd quarter. Standard Life Investments LTD now owns 12,822,939 shares of the semiconductor company’s stock worth $110,277,000 after purchasing an additional 2,999,700 shares during the period. FMR LLC raised its stake in shares of Himax Technologies by 54.9% during the 2nd quarter. FMR LLC now owns 9,055,317 shares of the semiconductor company’s stock worth $74,253,000 after purchasing an additional 3,209,380 shares during the period. Baillie Gifford & Co. raised its stake in shares of Himax Technologies by 7.5% during the 4th quarter. Baillie Gifford & Co. now owns 7,679,012 shares of the semiconductor company’s stock worth $62,967,000 after purchasing an additional 532,517 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Himax Technologies by 58.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,813,843 shares of the semiconductor company’s stock worth $49,942,000 after purchasing an additional 2,133,562 shares during the period. Finally, Prince Street Capital Management LLC raised its stake in shares of Himax Technologies by 91.3% during the 3rd quarter. Prince Street Capital Management LLC now owns 5,753,800 shares of the semiconductor company’s stock worth $49,425,000 after purchasing an additional 2,746,200 shares during the period. Institutional investors own 21.62% 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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Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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