Himax Technologies (NASDAQ:HIMX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a report published on Tuesday morning.

Himax Technologies Stock Up 10.9 %

Shares of NASDAQ HIMX opened at $7.41 on Tuesday. Himax Technologies has a one year low of $4.80 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.68 and a quick ratio of 1.40. The firm’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $5.80. The stock has a market capitalization of $1.29 billion, a P/E ratio of 27.45 and a beta of 2.13.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $207.60 million during the quarter, compared to analyst estimates of $203.40 million. Himax Technologies had a return on equity of 5.66% and a net margin of 5.30%. The business’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share.

Himax Technologies Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.29 dividend. This represents a yield of 5.09%. The ex-dividend date is Friday, June 28th. Himax Technologies’s payout ratio is 174.08%.

Institutional Trading of Himax Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd raised its holdings in Himax Technologies by 3,641.6% in the third quarter. Qube Research & Technologies Ltd now owns 394,851 shares of the semiconductor company’s stock worth $2,306,000 after purchasing an additional 384,298 shares in the last quarter. Jump Financial LLC raised its holdings in Himax Technologies by 55.2% in the fourth quarter. Jump Financial LLC now owns 139,338 shares of the semiconductor company’s stock worth $846,000 after purchasing an additional 49,538 shares in the last quarter. Citigroup Inc. raised its holdings in Himax Technologies by 24.0% in the third quarter. Citigroup Inc. now owns 45,733 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 8,856 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Himax Technologies by 42.4% in the fourth quarter. Quadrant Capital Group LLC now owns 35,175 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 10,476 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Himax Technologies by 11.7% during the third quarter. Scotia Capital Inc. now owns 71,700 shares of the semiconductor company’s stock valued at $419,000 after acquiring an additional 7,500 shares in the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.

About Himax Technologies

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.