Himax Technologies, Inc. (NASDAQ:HIMX) Upgraded to Outperform at Robert W. Baird
Robert W. Baird upgraded shares of Himax Technologies, Inc. (NASDAQ:HIMX) from a neutral rating to an outperform rating in a research note published on Friday morning. The brokerage currently has $10.00 target price on the semiconductor company’s stock, up from their prior target price of $6.00.
Several other equities analysts have also issued reports on HIMX. Nomura set a $9.00 target price on shares of Himax Technologies and gave the company a buy rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. reiterated an underperform rating and set a $4.00 target price (down from $8.00) on shares of Himax Technologies in a report on Friday, July 14th. Zacks Investment Research lowered shares of Himax Technologies from a buy rating to a hold rating in a report on Wednesday. Northland Securities reiterated an outperform rating and set a $10.00 target price on shares of Himax Technologies in a report on Wednesday, July 12th. Finally, CIBC reiterated an underperform rating and set a $4.00 target price on shares of Himax Technologies in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Himax Technologies currently has an average rating of Hold and a consensus target price of $8.58.
Shares of Himax Technologies (NASDAQ HIMX) traded up 1.45% during mid-day trading on Friday, hitting $8.41. The stock had a trading volume of 4,722,514 shares. The stock has a market capitalization of $1.45 billion, a P/E ratio of 37.05 and a beta of 0.85. Himax Technologies has a 52-week low of $4.88 and a 52-week high of $10.95.
Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Himax Technologies had a net margin of 2.58% and a return on equity of 4.15%. The business had revenue of $155.20 million for the quarter, compared to analysts’ expectations of $162.26 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. Himax Technologies’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, equities research analysts expect that Himax Technologies will post $0.09 EPS for the current year.
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The business also recently announced an annual dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, July 27th. This is a positive change from Himax Technologies’s previous annual dividend of $0.12. This represents a yield of 2.71%. Himax Technologies’s payout ratio is currently 191.68%.
A number of large investors have recently made changes to their positions in the stock. Kayak Investment Partners LLC bought a new stake in shares of Himax Technologies during the first quarter worth $19,649,000. Point72 Asset Management L.P. bought a new stake in shares of Himax Technologies during the first quarter worth $9,279,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Himax Technologies during the first quarter worth $3,010,000. Canada Pension Plan Investment Board raised its stake in shares of Himax Technologies by 2,325.6% in the first quarter. Canada Pension Plan Investment Board now owns 208,600 shares of the semiconductor company’s stock worth $1,902,000 after buying an additional 200,000 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock worth $2,007,000 after buying an additional 170,000 shares in the last quarter. Institutional investors and hedge funds own 22.50% of the company’s stock.
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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