Himax Technologies (HIMX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a sell rating in a research note published on Tuesday morning.

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. “

A number of other research analysts have also issued reports on HIMX. Robert W. Baird boosted their price target on Himax Technologies from $10.00 to $11.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Oppenheimer reiterated a sell rating and set a $4.00 price target on shares of Himax Technologies in a research report on Friday, November 10th. Vetr lowered Himax Technologies from a strong-buy rating to a buy rating and set a $12.59 price target for the company. in a research report on Friday, November 17th. Morgan Stanley lowered Himax Technologies from an overweight rating to an equal weight rating and set a $12.00 price target for the company. in a research report on Monday, November 27th. Finally, BidaskClub lowered Himax Technologies from a strong-buy rating to a buy rating in a research report on Saturday, December 9th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $10.86.

Himax Technologies (NASDAQ HIMX) opened at $8.13 on Tuesday. Himax Technologies has a 12-month low of $6.40 and a 12-month high of $13.95. The stock has a market capitalization of $1,400.00, a P/E ratio of 50.81, a P/E/G ratio of 1.34 and a beta of 0.46.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Himax Technologies had a return on equity of 6.41% and a net margin of 4.08%. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $184.30 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s revenue was down 11.0% compared to the same quarter last year. research analysts forecast that Himax Technologies will post 0.24 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Himax Technologies in the third quarter valued at $286,000. Summit Securities Group LLC acquired a new stake in shares of Himax Technologies in the third quarter valued at $470,000. NF Trinity Capital Hong Kong Ltd acquired a new stake in shares of Himax Technologies in the fourth quarter valued at $4,897,000. Stifel Financial Corp acquired a new stake in shares of Himax Technologies in the second quarter valued at $126,000. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Himax Technologies by 744.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 159,800 shares of the semiconductor company’s stock valued at $1,665,000 after buying an additional 140,880 shares during the period. Institutional investors and hedge funds own 33.87% of the company’s stock.

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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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