Himax (HIMX) Trading Down 5.2%

Himax (NASDAQ:HIMX)’s share price traded down 5.2% during trading on Wednesday . The stock traded as low as $7.21 and last traded at $7.33. 2,935,810 shares were traded during trading, a decline of 19% from the average session volume of 3,607,496 shares. The stock had previously closed at $7.73.

Several equities analysts have commented on the stock. Nomura lowered shares of Himax from a “buy” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $8.00 in a research report on Friday, March 9th. Zacks Investment Research lowered shares of Himax from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. BidaskClub upgraded shares of Himax from a “sell” rating to a “hold” rating in a research report on Monday, April 16th. ValuEngine upgraded shares of Himax from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Finally, Roth Capital reiterated a “neutral” rating on shares of Himax in a research report on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.79.

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.44 and a beta of 0.36.

Himax (NASDAQ:HIMX) last announced its earnings results on Thursday, May 10th. The semiconductor company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Himax had a net margin of 3.43% and a return on equity of 5.53%. The business had revenue of $162.85 million for the quarter, compared to the consensus estimate of $160.67 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts expect that Himax will post 0.12 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bloom Tree Partners LLC purchased a new position in Himax in the 1st quarter worth about $14,780,000. KADENSA CAPITAL Ltd purchased a new position in Himax in the 4th quarter worth about $8,202,000. CI Investments Inc. increased its stake in Himax by 74.6% in the 4th quarter. CI Investments Inc. now owns 1,162,000 shares of the semiconductor company’s stock worth $12,108,000 after buying an additional 496,300 shares during the period. QVT Financial LP purchased a new position in Himax in the 4th quarter worth about $5,038,000. Finally, NF Trinity Capital Hong Kong Ltd purchased a new position in Himax in the 4th quarter worth about $4,897,000. 25.19% of the stock is currently owned by institutional investors and hedge funds.

Himax Company Profile

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies worldwide. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.

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