Himax Technologies (NASDAQ:HIMX) Now Covered by Analysts at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Himax Technologies (NASDAQ:HIMX - Get Free Report) in a report released on Friday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $8.80 price target on the semiconductor company's stock. Morgan Stanley's price objective would indicate a potential upside of 7.71% from the stock's previous close.

Separately, StockNews.com cut Himax Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

Himax Technologies Stock Performance

NASDAQ:HIMX traded up $0.57 during mid-day trading on Friday, hitting $8.17. 2,854,944 shares of the company traded hands, compared to its average volume of 1,830,417. The stock's fifty day moving average price is $7.51 and its 200-day moving average price is $7.76. Himax Technologies has a one year low of $5.12 and a one year high of $13.91. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 18.16 and a beta of 2.09.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The firm had revenue of $215.13 million during the quarter, compared to analyst estimates of $207.10 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year.

Institutional Trading of Himax Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in HIMX. Point72 Asset Management L.P. lifted its holdings in shares of Himax Technologies by 346.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company's stock valued at $31,153,000 after purchasing an additional 3,006,311 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies during the 4th quarter valued at about $18,431,000. Allianz Asset Management GmbH acquired a new stake in Himax Technologies in the 1st quarter worth about $8,586,000. Soviero Asset Management LP acquired a new stake in Himax Technologies in the 4th quarter worth about $4,020,000. Finally, Headwater Capital Co Ltd purchased a new position in Himax Technologies in the 1st quarter worth approximately $3,675,000. Hedge funds and other 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.