Lake Street Capital Lowers Himax Technologies (NASDAQ:HIMX) Price Target to $2.50

Himax Technologies (NASDAQ:HIMX) had its price objective lowered by Lake Street Capital from $3.00 to $2.50 in a research report sent to investors on Tuesday morning, The Fly reports. Lake Street Capital currently has a hold rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the company. Roth Capital reiterated a neutral rating and issued a $3.50 target price (down previously from $5.00) on shares of Himax Technologies in a research note on Friday, July 12th. ValuEngine lowered Himax Technologies from a hold rating to a sell rating in a research note on Wednesday, September 4th. Northland Securities reiterated a hold rating and issued a $2.50 target price on shares of Himax Technologies in a research note on Friday, August 9th. Zacks Investment Research upgraded Himax Technologies from a sell rating to a hold rating in a research note on Friday, September 13th. Finally, Credit Suisse Group lowered Himax Technologies from a neutral rating to an underperform rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $4.42.

HIMX stock opened at $2.20 on Tuesday. The business’s fifty day simple moving average is $2.28 and its two-hundred day simple moving average is $3.07. Himax Technologies has a twelve month low of $1.70 and a twelve month high of $6.66. The firm has a market cap of $394.21 million, a price-to-earnings ratio of 114.50 and a beta of 0.06.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, August 8th. The semiconductor company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Himax Technologies had a return on equity of 0.76% and a net margin of 0.26%. The business had revenue of $169.30 million for the quarter, compared to analyst estimates of $170.16 million. During the same quarter last year, the firm posted $0.01 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that Himax Technologies will post -0.17 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its position in shares of Himax Technologies by 111.5% during the 2nd quarter. Morgan Stanley now owns 1,233,797 shares of the semiconductor company’s stock worth $4,294,000 after buying an additional 650,517 shares in the last quarter. Creative Planning bought a new position in shares of Himax Technologies during the 2nd quarter worth $2,306,000. SG Americas Securities LLC grew its position in shares of Himax Technologies by 24.9% during the 2nd quarter. SG Americas Securities LLC now owns 468,205 shares of the semiconductor company’s stock worth $1,629,000 after buying an additional 93,385 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Himax Technologies by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 435,142 shares of the semiconductor company’s stock worth $1,497,000 after buying an additional 102,071 shares in the last quarter. Finally, Mondrian Capital Management LLC bought a new position in shares of Himax Technologies during the 2nd quarter worth $1,131,000. 8.99% of the stock is currently owned by institutional investors and hedge funds.

Himax Technologies 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.

Further Reading: S&P 500 Index

The Fly

Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

Receive News & Ratings for Himax Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Himax Technologies and related companies with MarketBeat.com's FREE daily email newsletter.