Himax Technologies (HIMX) Receives Neutral Rating from Credit Suisse Group

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Credit Suisse Group restated their neutral rating on shares of Himax Technologies (NASDAQ:HIMX) in a research note published on Friday morning, Marketbeat.com reports. They currently have a $7.00 price objective on the semiconductor company’s stock.

Several other research firms also recently commented on HIMX. BidaskClub downgraded shares of Himax Technologies from a buy rating to a hold rating in a research note on Friday, July 27th. ValuEngine downgraded shares of Himax Technologies from a hold rating to a sell rating in a research note on Tuesday, July 31st. 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 research note on Monday, October 1st. Zacks Investment Research upgraded shares of Himax Technologies from a hold rating to a strong-buy rating and set a $7.00 price objective for the company in a research note on Thursday, October 11th. Finally, Robert W. Baird lowered their price objective on shares of Himax Technologies from $10.00 to $7.00 and set an outperform rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Himax Technologies currently has an average rating of Hold and an average price target of $7.99.

Shares of NASDAQ:HIMX traded down $0.41 on Friday, hitting $4.41. 4,565,723 shares of the company were exchanged, compared to its average volume of 2,079,525. Himax Technologies has a 1-year low of $4.32 and a 1-year high of $13.95. The company has a market capitalization of $932.80 million, a P/E ratio of 27.56, a PEG ratio of 32.52 and a beta of -0.27.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings data on Thursday, November 8th. The semiconductor company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Himax Technologies had a net margin of 3.66% and a return on equity of 6.12%. The business had revenue of $188.40 million during the quarter, compared to the consensus estimate of $188.20 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Himax Technologies will post 0.01 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of HIMX. Stelac Advisory Services LLC purchased a new position in shares of Himax Technologies during the third quarter worth $110,000. Russell Investments Group Ltd. purchased a new position in shares of Himax Technologies during the second quarter worth $153,000. Sheets Smith Wealth Management purchased a new position in shares of Himax Technologies during the second quarter worth $183,000. Engineers Gate Manager LP purchased a new position in shares of Himax Technologies during the second quarter worth $201,000. Finally, WESPAC Advisors SoCal LLC purchased a new position in shares of Himax Technologies during the second quarter worth $227,000. 22.92% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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