Himax Technologies (NASDAQ:HIMX) Downgraded by Credit Suisse Group to "Neutral" – MarketBeat
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Himax Technologies (NASDAQ:HIMX – Get Rating) was downgraded by equities research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, The Fly reports. They presently have a $7.00 price target on the semiconductor company’s stock. Credit Suisse Group’s target price points to a potential upside of 2.19% from the company’s current price.
A number of other equities research analysts have also weighed in on HIMX. StockNews.com began coverage on shares of Himax Technologies in a report on Thursday, March 31st. They set a “hold” rating on the stock. Nomura lowered shares of Himax Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, April 7th. Finally, Nomura Instinet reissued a “neutral” rating and set a $11.00 target price on shares of Himax Technologies in a report on Thursday, April 7th.
Shares of NASDAQ:HIMX opened at $6.85 on Thursday. The firm has a 50 day moving average of $8.66 and a 200-day moving average of $10.24. The stock has a market capitalization of $1.19 billion, a PE ratio of 2.46 and a beta of 1.96. The company has a current ratio of 2.13, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. Himax Technologies has a 12 month low of $6.30 and a 12 month high of $16.50.
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Himax Technologies (NASDAQ:HIMX – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The semiconductor company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $412.81 million for the quarter. Himax Technologies had a net margin of 29.43% and a return on equity of 62.49%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its holdings in Himax Technologies by 160.0% during the first quarter. New York State Common Retirement Fund now owns 3,161 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,945 shares during the last quarter. AlphaMark Advisors LLC bought a new position in Himax Technologies during the first quarter valued at about $43,000. TFC Financial Management grew its position in Himax Technologies by 83.3% during the fourth quarter. TFC Financial Management now owns 4,400 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 2,000 shares during the period. Spire Wealth Management boosted its position in Himax Technologies by 973.4% during the fourth quarter. Spire Wealth Management now owns 5,367 shares of the semiconductor company’s stock worth $86,000 after purchasing an additional 4,867 shares during the period. Finally, Stonnington Group LLC bought a new position in Himax Technologies during the first quarter worth about $94,000. Hedge funds and other institutional investors own 26.96% of the company’s stock.
About Himax Technologies (Get Rating)
Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates through two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality devices, and other consumer electronic devices.
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