ValuEngine Lowers Himax Technologies (NASDAQ:HIMX) to Hold

Himax Technologies (NASDAQ:HIMX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

HIMX has been the subject of a number of other reports. Lake Street Capital decreased their price objective on Himax Technologies from $3.00 to $2.50 and set a “hold” rating for the company in a report on Tuesday, September 17th. Credit Suisse Group downgraded Himax Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, August 9th. BidaskClub upgraded Himax Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Zacks Investment Research upgraded Himax Technologies from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Wednesday, November 13th. Finally, Northland Securities restated a “hold” rating and issued a $2.25 target price on shares of Himax Technologies in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $2.81.

HIMX stock traded down $0.15 on Tuesday, reaching $2.18. The company’s stock had a trading volume of 2,437,100 shares, compared to its average volume of 1,339,905. Himax Technologies has a 52 week low of $1.70 and a 52 week high of $4.31. The company has a market capitalization of $438.97 million, a P/E ratio of 36.33 and a beta of 0.23. The firm has a fifty day moving average of $2.41 and a two-hundred day moving average of $2.77.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, November 7th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Himax Technologies had a negative return on equity of 1.15% and a negative net margin of 0.90%. The business had revenue of $164.30 million during the quarter, compared to analyst estimates of $159.68 million. During the same period in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Research analysts anticipate that Himax Technologies will post -0.13 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors acquired a new stake in Himax Technologies in the second quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Himax Technologies by 87.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,911 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 7,904 shares during the period. US Bancorp DE lifted its position in Himax Technologies by 947.1% in the second quarter. US Bancorp DE now owns 11,047 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 9,992 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Himax Technologies in the second quarter worth approximately $53,000. Finally, FNY Investment Advisers LLC lifted its position in Himax Technologies by 2,600.0% in the second quarter. FNY Investment Advisers LLC now owns 15,000 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 15,600 shares during the period. Hedge funds and other institutional investors own 8.01% of the company’s stock.

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.

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