Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price dropped 6.9% during trading on Friday . The company traded as low as $3.06 and last traded at $3.12, approximately 2,830,084 shares traded hands during mid-day trading. An increase of 90% from the average daily volume of 1,492,080 shares. The stock had previously closed at $3.35.
HIMX has been the subject of a number of recent research reports. BidaskClub cut shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. Roth Capital initiated coverage on shares of Aimmune Therapeutics in a research note on Friday. They issued a “buy” rating and a $45.00 price objective for the company. Northland Securities set a $50.00 price objective on shares of Polarityte and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.19.
The company has a 50 day moving average price of $3.33. The stock has a market capitalization of $537.09 million, a PE ratio of 52.00 and a beta of 0.06.
Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Himax Technologies had a net margin of 1.25% and a return on equity of 2.36%. The firm had revenue of $163.33 million during the quarter, compared to analysts’ expectations of $157.95 million. During the same period in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts forecast that Himax Technologies, Inc. will post -0.14 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Himax Technologies by 201.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,007 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 6,024 shares in the last quarter. Comerica Bank bought a new stake in Himax Technologies during the 4th quarter valued at about $38,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Himax Technologies by 9.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,989 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 4,529 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Himax Technologies by 662.3% in the 4th quarter. Hsbc Holdings PLC now owns 297,072 shares of the semiconductor company’s stock valued at $1,019,000 after purchasing an additional 258,104 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Himax Technologies by 18.3% in the 4th quarter. Stifel Financial Corp now owns 393,605 shares of the semiconductor company’s stock valued at $1,327,000 after purchasing an additional 60,760 shares in the last quarter. 9.54% of the stock is owned by hedge funds and other institutional investors.
About Himax Technologies (NASDAQ:HIMX)
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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