Himax Technologies (NASDAQ:HIMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Himax Technologies, Inc. designs, develops and markets semiconductors that are critical components of flat panel displays. The Company’s principal products are display drivers for large-sized TFT-LCD panels, which are used in desktop monitors, notebook computers and televisions, and display drivers for small- and medium-sized TFT-LCD panels, which are used in mobile handsets and consumer electronics products such as digital cameras, mobile gaming devices and car navigation displays. In addition, the Company is expanding its product offering to include LCD TV chipset solutions and LCOS microdisplays. “
A number of other brokerages also recently issued reports on HIMX. BidaskClub downgraded shares of Himax Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Robert W. Baird raised their price target on shares of Himax Technologies from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Vetr downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating and set a $13.60 price target for the company. in a report on Thursday, November 23rd. Instinet restated a “buy” rating and set a $12.00 price target on shares of Himax Technologies in a report on Friday, October 13th. Finally, Lake Street Capital set a $13.00 price target on shares of Himax Technologies and gave the stock a “buy” rating in a report on Thursday, December 28th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.47.
Several large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in shares of Himax Technologies during the 3rd quarter worth approximately $193,000. Cubist Systematic Strategies LLC purchased a new position in shares of Himax Technologies during the 3rd quarter worth approximately $232,000. Yiheng Capital LLC boosted its position in shares of Himax Technologies by 36.4% during the 3rd quarter. Yiheng Capital LLC now owns 1,275,032 shares of the semiconductor company’s stock worth $13,936,000 after purchasing an additional 340,104 shares during the period. Quentec Asset Management LLC boosted its position in shares of Himax Technologies by 28.5% during the 3rd quarter. Quentec Asset Management LLC now owns 2,665,751 shares of the semiconductor company’s stock worth $29,137,000 after purchasing an additional 591,273 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Himax Technologies during the 3rd quarter worth approximately $671,000. 26.90% of the stock is owned by hedge funds and other 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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