Himax Technologies (HIMX) Upgraded 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 report published on Friday. Zacks Investment Research currently has $11.00 target price 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. “

HIMX has been the subject of several other research reports. Robert W. Baird raised their price objective on shares of Himax Technologies from $10.00 to $12.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. BidaskClub downgraded shares of Himax Technologies from a buy rating to a hold rating in a research note on Saturday, December 16th. Roth Capital raised their price objective on shares of Himax Technologies from $10.00 to $12.00 and gave the stock a buy rating in a research note on Tuesday, September 26th. Vetr raised shares of Himax Technologies from a strong sell rating to a strong-buy rating and set a $14.98 price objective for the company in a research note on Tuesday, November 28th. Finally, Mizuho downgraded shares of Himax Technologies from a buy rating to a neutral rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $10.86.

Shares of Himax Technologies (NASDAQ HIMX) traded up $0.05 during midday trading on Friday, reaching $9.79. 3,142,353 shares of the company’s stock traded hands, compared to its average volume of 3,327,991. The company has a market capitalization of $1,676.29, a P/E ratio of 163.19, a P/E/G ratio of 1.41 and a beta of 0.85. Himax Technologies has a twelve month low of $4.88 and a twelve month high of $13.95.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Himax Technologies had a net margin of 1.25% and a return on equity of 2.10%. equities research analysts predict that Himax Technologies will post 0.16 EPS for the current year.

Several large investors have recently modified their holdings of the company. FMR LLC increased its holdings in Himax Technologies by 54.9% during the second quarter. FMR LLC now owns 9,055,317 shares of the semiconductor company’s stock valued at $74,253,000 after buying an additional 3,209,380 shares during the period. CI Investments Inc. purchased a new position in Himax Technologies during the third quarter valued at approximately $7,276,000. Quentec Asset Management LLC increased its holdings in Himax Technologies by 28.5% during the third quarter. Quentec Asset Management LLC now owns 2,665,751 shares of the semiconductor company’s stock valued at $29,137,000 after buying an additional 591,273 shares during the period. Kayak Investment Partners LLC increased its holdings in Himax Technologies by 22.3% during the second quarter. Kayak Investment Partners LLC now owns 2,633,900 shares of the semiconductor company’s stock valued at $21,598,000 after buying an additional 479,400 shares during the period. Finally, Yiheng Capital LLC increased its holdings in Himax Technologies by 36.4% during the third quarter. Yiheng Capital LLC now owns 1,275,032 shares of the semiconductor company’s stock valued at $13,936,000 after buying an additional 340,104 shares during the period. 26.90% of the stock is currently owned by institutional investors and hedge funds.

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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.

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