Himax Technologies (HIMX) Downgraded by Northland Securities to “Market Perform”

Northland Securities cut shares of Himax Technologies (NASDAQ:HIMX) from an outperform rating to a market perform rating in a research report released on Friday, March 9th.

A number of other equities analysts also recently commented on HIMX. Vetr upgraded Himax Technologies from a strong sell rating to a strong-buy rating and set a $14.98 target price for the company in a report on Tuesday, November 28th. BidaskClub downgraded Himax Technologies from a hold rating to a sell rating in a report on Saturday, February 17th. Zacks Investment Research upgraded Himax Technologies from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Friday, January 19th. Morgan Stanley downgraded Himax Technologies from an overweight rating to an equal weight rating and set a $12.00 price objective for the company. in a report on Monday, November 27th. Finally, Credit Suisse Group set a $15.00 target price on Himax Technologies and gave the stock a buy rating in a research note on Thursday, January 11th. Five analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $10.79.

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Himax Technologies stock traded up $0.28 during midday trading on Friday, reaching $6.44. The stock had a trading volume of 3,338,005 shares, compared to its average volume of 4,342,773. Himax Technologies has a 12 month low of $5.97 and a 12 month high of $13.95. The stock has a market capitalization of $1,060.16, a P/E ratio of 40.25, a P/E/G ratio of 2.17 and a beta of 0.38.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The business had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $184.30 million. Himax Technologies had a return on equity of 6.41% and a net margin of 4.08%. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. research analysts predict that Himax Technologies will post 0.11 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HBK Investments L P bought a new stake in Himax Technologies during the 4th quarter valued at approximately $1,223,000. Two Sigma Securities LLC purchased a new position in Himax Technologies during the 4th quarter valued at approximately $122,000. Two Sigma Advisers LP grew its holdings in Himax Technologies by 254.4% during the 4th quarter. Two Sigma Advisers LP now owns 149,200 shares of the semiconductor company’s stock valued at $1,555,000 after buying an additional 107,100 shares in the last quarter. QVT Financial LP purchased a new position in Himax Technologies during the 4th quarter valued at approximately $5,038,000. Finally, Guggenheim Capital LLC purchased a new position in Himax Technologies during the 4th quarter valued at approximately $884,000. 33.19% of the stock is currently owned by institutional investors.

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About Himax Technologies

Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.

Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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