Himax Technologies (NASDAQ:HIMX) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a strong-buy rating in a research report released on Monday, Zacks.com reports. The brokerage currently has $4.50 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 research analysts have also commented on HIMX. Northland Securities reaffirmed a hold rating and set a $2.25 price objective on shares of Himax Technologies in a research report on Friday, November 8th. Credit Suisse Group raised shares of Himax Technologies from an underperform rating to a neutral rating and set a $3.00 price objective for the company in a research report on Sunday, January 5th. ValuEngine lowered shares of Himax Technologies from a buy rating to a hold rating in a research report on Tuesday, November 19th. TheStreet lowered shares of Himax Technologies from a c- rating to a d rating in a research report on Friday, November 8th. Finally, BidaskClub raised shares of Himax Technologies from a hold rating to a buy rating in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. Himax Technologies has an average rating of Buy and a consensus target price of $3.15.

Shares of HIMX traded up $0.02 during trading hours on Monday, reaching $3.82. 563,550 shares of the company traded hands, compared to its average volume of 1,686,958. The stock’s fifty day moving average is $2.74 and its 200 day moving average is $2.59. The stock has a market cap of $673.09 million, a P/E ratio of 63.58 and a beta of 0.32. Himax Technologies has a 1-year low of $1.70 and a 1-year high of $4.15.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings data on Thursday, November 7th. The semiconductor company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $164.30 million during the quarter, compared to analyst estimates of $159.68 million. Himax Technologies had a negative net margin of 0.90% and a negative return on equity of 1.15%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. Sell-side analysts predict that Himax Technologies will post -0.11 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in HIMX. US Bancorp DE raised its stake in Himax Technologies by 947.1% during the second quarter. US Bancorp DE now owns 11,047 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 9,992 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Himax Technologies during the second quarter valued at $53,000. TRUE Private Wealth Advisors lifted its holdings in shares of Himax Technologies by 142.9% during the third quarter. TRUE Private Wealth Advisors now owns 18,700 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 11,000 shares during the period. Virtu Financial LLC boosted its stake in shares of Himax Technologies by 24.1% in the 3rd quarter. Virtu Financial LLC now owns 95,941 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 18,625 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Himax Technologies in the 2nd quarter valued at $414,000. Hedge funds and other institutional investors own 6.76% of the company’s stock.

About Himax Technologies

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: How Do I Invest in Dividend Stocks

Get a free copy of the Zacks research report on Himax Technologies (HIMX)

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.