Himax Technologies’ (HIMX) Outperform Rating Reaffirmed at Macquarie
Macquarie reaffirmed their outperform rating on shares of Himax Technologies, Inc. (NASDAQ:HIMX) in a research note released on Saturday. Macquarie currently has a $10.30 price objective on the semiconductor company’s stock.
Several other brokerages have also recently weighed in on HIMX. Northland Securities reissued an outperform rating and set a $10.00 price objective on shares of Himax Technologies in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued an underperform rating and set a $4.00 price objective (down from $8.00) on shares of Himax Technologies in a research note on Friday, July 14th. Zacks Investment Research cut Himax Technologies from a hold rating to a sell rating in a research note on Friday, May 19th. Robert W. Baird reduced their price objective on Himax Technologies from $7.00 to $6.00 and set a neutral rating on the stock in a research note on Friday, May 12th. Finally, CIBC reissued an underperform rating and set a $4.00 price objective on shares of Himax Technologies in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $7.92.
Himax Technologies (HIMX) traded up 1.13% during trading on Friday, reaching $8.96. The company had a trading volume of 5,626,795 shares. Himax Technologies has a one year low of $4.88 and a one year high of $10.95. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 39.47 and a beta of 0.84.
Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Himax Technologies had a return on equity of 8.59% and a net margin of 5.04%. The company had revenue of $155.20 million for the quarter, compared to the consensus estimate of $162.26 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was down 13.9% compared to the same quarter last year. On average, equities analysts expect that Himax Technologies will post $0.10 EPS for the current fiscal year.
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The company also recently disclosed an annual dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.24 dividend. The ex-dividend date is Thursday, July 27th. This represents a yield of 2.71%. This is a boost from Himax Technologies’s previous annual dividend of $0.12.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of Himax Technologies during the first quarter valued at about $148,000. Fort Point Capital Partners LLC purchased a new position in shares of Himax Technologies during the first quarter valued at about $296,000. Creative Planning boosted its position in shares of Himax Technologies by 4.2% in the first quarter. Creative Planning now owns 55,590 shares of the semiconductor company’s stock valued at $507,000 after buying an additional 2,217 shares during the period. Bank of Montreal Can boosted its position in shares of Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock valued at $2,007,000 after buying an additional 170,000 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Himax Technologies by 2,325.6% in the first quarter. Canada Pension Plan Investment Board now owns 208,600 shares of the semiconductor company’s stock valued at $1,902,000 after buying an additional 200,000 shares during the period. 22.46% of the stock is currently owned by institutional investors.
About Himax Technologies
Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.
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