Himax Technologies (NASDAQ:HIMX) Downgraded to Strong Sell at BidaskClub

BidaskClub downgraded shares of Himax Technologies (NASDAQ:HIMX) from a sell rating to a strong sell rating in a research note published on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently commented on HIMX. Northland Securities reissued a hold rating and set a $2.50 price target on shares of Himax Technologies in a research report on Friday, August 9th. ValuEngine raised shares of Himax Technologies from a hold rating to a buy rating in a research report on Thursday, August 1st. Credit Suisse Group cut shares of Himax Technologies from a neutral rating to an underperform rating in a research report on Friday, August 9th. Roth Capital reissued a neutral rating and set a $3.50 price target (down from $5.00) on shares of Himax Technologies in a research report on Friday, July 12th. Finally, Zacks Investment Research cut shares of Himax Technologies from a buy rating to a hold rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Himax Technologies currently has an average rating of Hold and an average price target of $4.86.

HIMX opened at $2.24 on Tuesday. The company has a market cap of $387.34 million, a PE ratio of 37.33 and a beta of 0.04. Himax Technologies has a 12 month low of $2.22 and a 12 month high of $6.66. The company has a fifty day moving average of $3.14.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Himax Technologies had a net margin of 0.26% and a return on equity of 0.76%. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $170.16 million. During the same period in the previous year, the firm posted $0.01 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. As a group, research analysts expect that Himax Technologies will post -0.14 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in HIMX. Creative Planning acquired a new position in shares of Himax Technologies during the 2nd quarter worth about $2,306,000. Mondrian Capital Management LLC acquired a new position in shares of Himax Technologies during the 2nd quarter worth about $1,131,000. JPMorgan Chase & Co. increased its stake in shares of Himax Technologies by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 435,142 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 102,071 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Himax Technologies by 24.9% during the 2nd quarter. SG Americas Securities LLC now owns 468,205 shares of the semiconductor company’s stock worth $1,629,000 after purchasing an additional 93,385 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Himax Technologies during the 2nd quarter worth about $267,000. Institutional investors own 10.26% of the company’s stock.

About Himax Technologies

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: What is the Moving Average Convergence Divergence (MACD) oscillator?

Analyst Recommendations for Himax Technologies (NASDAQ:HIMX)

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.