Himax Technologies (NASDAQ:HIMX) Sets New 1-Year High Following Analyst Upgrade

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price reached a new 52-week high during trading on Thursday after Roth Capital upgraded the stock from a neutral rating to a buy rating. Roth Capital now has a price target on the stock, up from their previous price target of . Himax Technologies traded as high as $5.05 and last traded at $4.85, with a volume of 66145 shares traded. The stock had previously closed at $4.69.

Other equities analysts also recently issued research reports about the company. Credit Suisse Group upgraded Himax Technologies from an “underperform” rating to a “neutral” rating and set a $3.00 price objective on the stock in a report on Sunday, January 5th. Zacks Investment Research upgraded Himax Technologies from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective on the stock in a report on Monday, January 13th. ValuEngine downgraded Himax Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 18th. Lake Street Capital increased their price objective on Himax Technologies from $5.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday. Finally, BidaskClub upgraded Himax Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $4.65.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Himax Technologies by 111.5% during the second quarter. Morgan Stanley now owns 1,233,797 shares of the semiconductor company’s stock worth $4,294,000 after purchasing an additional 650,517 shares during the period. Virtu Financial LLC boosted its position in Himax Technologies by 24.1% during the third quarter. Virtu Financial LLC now owns 95,941 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 18,625 shares during the period. California Public Employees Retirement System boosted its position in Himax Technologies by 13.2% during the third quarter. California Public Employees Retirement System now owns 310,000 shares of the semiconductor company’s stock worth $704,000 after purchasing an additional 36,100 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Himax Technologies during the second quarter worth approximately $53,000. Finally, Stifel Financial Corp boosted its position in Himax Technologies by 6.0% during the third quarter. Stifel Financial Corp now owns 930,576 shares of the semiconductor company’s stock worth $2,115,000 after purchasing an additional 52,816 shares during the period. Hedge funds and other institutional investors own 6.63% of the company’s stock.

The stock has a market cap of $833.18 million, a P/E ratio of -161.33 and a beta of 0.29. The business has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $2.71.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $174.90 million during the quarter, compared to analysts’ expectations of $174.90 million. Himax Technologies had a negative return on equity of 1.15% and a negative net margin of 0.90%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities analysts predict that Himax Technologies, Inc. will post -0.11 EPS for the current year.

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.

Featured Story: Closed-End Mutual Funds

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.