Himax Technologies (NASDAQ:HIMX) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Himax Technologies (NASDAQ:HIMX) in a report released on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $8.80 price objective on the semiconductor company’s stock.

Separately, StockNews.com cut shares of Himax Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

Himax Technologies Stock Up 0.4 %

NASDAQ:HIMX opened at $7.60 on Friday. Himax Technologies has a 1 year low of $5.12 and a 1 year high of $13.91. The stock has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $7.74. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 16.89 and a beta of 2.09. The company has a current ratio of 1.65, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $215.13 million during the quarter, compared to analyst estimates of $207.10 million. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. Himax Technologies’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS.

Himax Technologies Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a dividend yield of 3.7%. Himax Technologies’s dividend payout ratio is currently 62.22%.

Institutional Trading of Himax Technologies

A number of institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC increased its stake in Himax Technologies by 2.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock valued at $35,033,000 after buying an additional 116,088 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Himax Technologies by 346.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock valued at $31,153,000 after acquiring an additional 3,006,311 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Himax Technologies during the fourth quarter worth about $18,431,000. Robeco Institutional Asset Management B.V. boosted its position in Himax Technologies by 16.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 2,230,791 shares of the semiconductor company’s stock valued at $16,396,000 after purchasing an additional 321,755 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Himax Technologies in the first quarter valued at approximately $8,586,000. Institutional investors own 69.81% of the company’s stock.

Himax Technologies Company Profile

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 in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, and other products.