Himax Technologies (HIMX) Trading Down 6%

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price fell 6% on Monday . The company traded as low as $3.10 and last traded at $3.13. 2,435,439 shares were traded during mid-day trading, an increase of 51% from the average session volume of 1,613,772 shares. The stock had previously closed at $3.33.

A number of research firms have recently weighed in on HIMX. BidaskClub raised shares of Himax Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Zacks Investment Research raised shares of Himax Technologies from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Wednesday, April 24th. Northland Securities reaffirmed a “hold” rating and issued a $3.00 price target on shares of Himax Technologies in a research note on Friday, May 10th. Finally, Lake Street Capital downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $7.00 to $4.00 in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.22.

The company has a market cap of $538.81 million, a price-to-earnings ratio of 51.83 and a beta of 0.04.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $157.95 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts anticipate that Himax Technologies, Inc. will post -0.14 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Yiheng Capital LLC raised its holdings in shares of Himax Technologies by 167.5% during the fourth quarter. Yiheng Capital LLC now owns 3,411,152 shares of the semiconductor company’s stock worth $11,700,000 after acquiring an additional 2,136,120 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Himax Technologies by 269.2% during the first quarter. Renaissance Technologies LLC now owns 1,404,264 shares of the semiconductor company’s stock worth $4,480,000 after acquiring an additional 1,023,903 shares during the period. Morgan Stanley raised its holdings in shares of Himax Technologies by 170.6% during the first quarter. Morgan Stanley now owns 583,280 shares of the semiconductor company’s stock worth $1,861,000 after acquiring an additional 367,739 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Himax Technologies by 662.3% during the fourth quarter. Hsbc Holdings PLC now owns 297,072 shares of the semiconductor company’s stock worth $1,019,000 after acquiring an additional 258,104 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Himax Technologies during the first quarter worth $638,000. 13.05% of the stock is owned by hedge funds and other institutional investors.

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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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