Himax Technologies (HIMX) Upgraded by Zacks Investment Research to “Buy”

Himax Technologies (NASDAQ:HIMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $11.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.36% from the company’s current price.

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. “

HIMX has been the subject of several other reports. Robert W. Baird lifted their price target on Himax Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. BidaskClub cut Himax Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Roth Capital lifted their price target on Himax Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Vetr upgraded Himax Technologies from a “strong sell” rating to a “strong-buy” rating and set a $14.98 price target for the company in a research report on Tuesday, November 28th. Finally, Mizuho cut Himax Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Himax Technologies currently has a consensus rating of “Buy” and a consensus target price of $10.86.

Shares of Himax Technologies (NASDAQ:HIMX) traded up $0.05 during midday trading on Friday, hitting $9.79. The stock had a trading volume of 3,145,603 shares, compared to its average volume of 5,130,000. The stock has a market capitalization of $1,680.00, a PE ratio of 163.17, a PEG ratio of 1.42 and a beta of 0.85. Himax Technologies has a one year low of $4.88 and a one year high of $13.95.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Himax Technologies had a return on equity of 2.10% and a net margin of 1.25%. equities analysts anticipate that Himax Technologies will post 0.16 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its position in Himax Technologies by 9.7% during the second quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,583 shares in the last quarter. Private Advisor Group LLC grew its position in Himax Technologies by 19.7% during the second quarter. Private Advisor Group LLC now owns 17,300 shares of the semiconductor company’s stock worth $141,000 after buying an additional 2,850 shares in the last quarter. Profund Advisors LLC grew its position in Himax Technologies by 5.2% during the second quarter. Profund Advisors LLC now owns 67,728 shares of the semiconductor company’s stock worth $555,000 after buying an additional 3,320 shares in the last quarter. California Public Employees Retirement System lifted its stake in Himax Technologies by 0.8% during the second quarter. California Public Employees Retirement System now owns 519,300 shares of the semiconductor company’s stock worth $4,258,000 after purchasing an additional 4,300 shares during the last quarter. Finally, State Street Corp lifted its stake in Himax Technologies by 9.6% during the second quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock worth $1,025,000 after purchasing an additional 10,969 shares during the last quarter. Institutional investors and hedge funds own 26.90% of the company’s stock.

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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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