Himax Technologies (NASDAQ:HIMX) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. They currently have $4.00 price objective on the semiconductor company’s stock.
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 equities analysts have also recently commented on the company. BidaskClub upgraded Zai Lab from a sell rating to a hold rating in a report on Wednesday, June 5th. Northland Securities set a $50.00 price objective on Polarityte and gave the company a buy rating in a report on Friday, May 10th. Finally, Roth Capital upgraded Himax Technologies from a neutral rating to a buy rating and boosted their price objective for the company from $4.00 to $5.00 in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $5.19.
Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, May 9th. The semiconductor company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $163.33 million during the quarter, compared to analysts’ expectations of $157.95 million. Himax Technologies had a return on equity of 2.36% and a net margin of 1.25%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. As a group, equities analysts anticipate that Himax Technologies will post -0.14 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of HIMX. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Himax Technologies by 201.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,007 shares of the semiconductor company’s stock worth $29,000 after buying an additional 6,024 shares during the period. Comerica Bank bought a new position in shares of Himax Technologies in the 4th quarter worth $38,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Himax Technologies by 9.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,989 shares of the semiconductor company’s stock worth $172,000 after acquiring an additional 4,529 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Himax Technologies by 662.3% in the 4th quarter. Hsbc Holdings PLC now owns 297,072 shares of the semiconductor company’s stock worth $1,019,000 after acquiring an additional 258,104 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Himax Technologies by 18.3% in the 4th quarter. Stifel Financial Corp now owns 393,605 shares of the semiconductor company’s stock worth $1,327,000 after acquiring an additional 60,760 shares in the last quarter. Institutional investors and hedge funds own 9.54% 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.
Featured Article: Dead Cat Bounce
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.