Himax Technologies, Inc. (NASDAQ:HIMX) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Himax Technologies, Inc. (NASDAQ:HIMX) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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 equities analysts also recently commented on the stock. Northland Securities reaffirmed an outperform rating and issued a $10.00 price objective on shares of Himax Technologies in a report on Wednesday, April 26th. Macquarie started coverage on shares of Himax Technologies in a report on Monday, April 17th. They issued an outperform rating and a $12.00 price objective for the company. ValuEngine downgraded shares of Himax Technologies from a hold rating to a sell rating in a report on Thursday, May 18th. Rosenblatt Securities downgraded shares of Himax Technologies from a neutral rating to a sell rating and decreased their price objective for the stock from $7.00 to $6.00 in a report on Friday, July 21st. Finally, Robert W. Baird decreased their price objective on shares of Himax Technologies from $7.00 to $6.00 and set a neutral rating for the company in a report on Friday, May 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $8.58.
Shares of Himax Technologies (NASDAQ:HIMX) traded up 1.45% on Wednesday, hitting $8.41. 4,722,514 shares of the stock traded hands. Himax Technologies has a 12-month low of $4.88 and a 12-month high of $10.95. The firm has a market cap of $1.45 billion, a PE ratio of 37.05 and a beta of 0.85.
Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $155.20 million during the quarter, compared to the consensus estimate of $162.26 million. Himax Technologies had a return on equity of 4.15% and a net margin of 2.58%. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, equities analysts forecast that Himax Technologies will post $0.09 earnings per share for the current year.
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The company also recently declared an annual dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.24 per share. This is an increase from Himax Technologies’s previous annual dividend of $0.12. The ex-dividend date is Thursday, July 27th. This represents a dividend yield of 2.71%. Himax Technologies’s payout ratio is 191.68%.
Several institutional investors have recently made changes to their positions in the stock. Kayak Investment Partners LLC purchased a new position in shares of Himax Technologies during the first quarter valued at about $19,649,000. Point72 Asset Management L.P. purchased a new position in shares of Himax Technologies during the first quarter valued at about $9,279,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Himax Technologies during the first quarter valued at about $3,010,000. Canada Pension Plan Investment Board increased its position 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 valued at $1,902,000 after buying an additional 200,000 shares during the period. Finally, Bank of Montreal Can increased its position 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 valued at $2,007,000 after buying an additional 170,000 shares during the period. 22.50% of the stock is owned by institutional investors.
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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