Himax Technologies, Inc. (NASDAQ:HIMX)’s share price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $8.88, but opened at $8.29. Himax Technologies shares last traded at $8.20, with a volume of 6640689 shares changing hands.

The semiconductor company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $184.30 million. Himax Technologies had a return on equity of 6.45% and a net margin of 4.08%. Himax Technologies’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS.

Several research firms have recently weighed in on HIMX. Zacks Investment Research downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird boosted their price objective on shares of Himax Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. BidaskClub cut shares of Himax Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Vetr raised shares of Himax Technologies from a “strong sell” rating to a “strong-buy” rating and set a $14.98 price objective for the company in a research note on Tuesday, November 28th. Finally, Oppenheimer reaffirmed a “sell” rating and set a $4.00 price objective on shares of Himax Technologies in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $10.86.

A number of institutional investors have recently made changes to their positions in HIMX. Bank of New York Mellon Corp lifted its position in Himax Technologies by 209.5% during the second quarter. Bank of New York Mellon Corp now owns 44,027 shares of the semiconductor company’s stock valued at $362,000 after purchasing an additional 29,804 shares during the last quarter. Northern Trust Corp lifted its position in Himax Technologies by 9.7% during the second quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 1,583 shares during the last quarter. California Public Employees Retirement System lifted its position in Himax Technologies by 0.8% during the second quarter. California Public Employees Retirement System now owns 519,300 shares of the semiconductor company’s stock valued at $4,258,000 after purchasing an additional 4,300 shares during the last quarter. Stifel Financial Corp bought a new stake in Himax Technologies during the second quarter valued at approximately $126,000. Finally, State Street Corp lifted its position in Himax Technologies by 9.6% during the second quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 10,969 shares during the last quarter. Institutional investors and hedge funds own 27.31% of the company’s stock.

The company has a market cap of $1,411.25, a PE ratio of 48.24, a PEG ratio of 1.19 and a beta of 0.46.

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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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