Himax Technologies (NASDAQ:HIMX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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 research reports. BidaskClub downgraded shares of Himax Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Robert W. Baird reduced their price target on shares of Himax Technologies from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. ValuEngine downgraded shares of Himax Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Macquarie downgraded shares of Himax Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $12.00 to $6.00 in a report on Thursday, August 16th. Finally, Roth Capital upgraded shares of Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Monday, October 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.47.

HIMX opened at $3.91 on Thursday. Himax Technologies has a twelve month low of $3.87 and a twelve month high of $13.79. The stock has a market cap of $717.67 million, a P/E ratio of 24.44, a P/E/G ratio of 6.54 and a beta of -0.34.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Himax Technologies had a net margin of 3.31% and a return on equity of 5.56%. The firm had revenue of $188.40 million during the quarter, compared to the consensus estimate of $188.20 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts forecast that Himax Technologies will post 0.03 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Luminus Management LLC acquired a new stake in Himax Technologies in the 3rd quarter valued at about $5,880,000. Hsbc Holdings PLC acquired a new stake in Himax Technologies in the 3rd quarter valued at about $229,000. Stevens Capital Management LP acquired a new stake in Himax Technologies in the 3rd quarter valued at about $100,000. Stelac Advisory Services LLC acquired a new stake in Himax Technologies in the 3rd quarter valued at about $110,000. Finally, FNY Investment Advisers LLC acquired a new stake in Himax Technologies in the 3rd quarter valued at about $676,000. Institutional investors own 19.55% 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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