Morgan Stanley Reiterates Equal Weight Rating for Himax Technologies (NASDAQ:HIMX)

Himax Technologies (NASDAQ:HIMX)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $8.00 price objective on the semiconductor company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 5.40% from the company’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Himax Technologies in a research note on Thursday, January 22nd. Zacks Research raised Himax Technologies to a “hold” rating in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.

Himax Technologies Stock Performance

Shares of HIMX stock opened at $7.59 on Wednesday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 21.08 and a beta of 1.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.42 and a current ratio of 1.60. The company has a 50-day simple moving average of $8.34 and a 200 day simple moving average of $8.39. Himax Technologies has a 52 week low of $5.66 and a 52 week high of $11.80.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.01 earnings per share for the quarter. Himax Technologies had a net margin of 7.18% and a return on equity of 6.98%. The firm had revenue of $199.16 million for the quarter, compared to analysts’ expectations of $186.22 million. During the same period in the prior year, the firm earned $0.07 EPS. The business’s revenue was down 10.5% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Wealth LLC raised its holdings in shares of Himax Technologies by 26.3% during the 4th quarter. NewEdge Wealth LLC now owns 19,707 shares of the semiconductor company’s stock worth $161,000 after buying an additional 4,101 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Himax Technologies by 24.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 825,971 shares of the semiconductor company’s stock valued at $7,046,000 after acquiring an additional 162,809 shares during the last quarter. Vest Financial LLC raised its stake in Himax Technologies by 70.8% during the fourth quarter. Vest Financial LLC now owns 17,596 shares of the semiconductor company’s stock worth $144,000 after acquiring an additional 7,296 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Himax Technologies by 13.8% during the fourth quarter. Sanctuary Advisors LLC now owns 24,838 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 3,011 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Himax Technologies by 43.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,164 shares of the semiconductor company’s stock worth $435,000 after acquiring an additional 16,053 shares during the last quarter. Institutional investors and hedge funds own 69.81% of the company’s stock.

About Himax Technologies

Himax Technologies, Inc (NASDAQ: HIMX) is a fabless semiconductor company specializing in display imaging technologies. The company designs and develops a comprehensive portfolio of display driver integrated circuits (DDICs), timing controllers, and other high-speed interface chips that enable high-resolution panels for a wide array of electronic devices. Himax’s solutions are tailored to support both LCD and OLED displays, ensuring compatibility with television sets, desktop monitors, laptops, tablets, smartphones and wearable devices.

In addition to core display driver products, Himax offers wafer-level optics and liquid crystal on silicon (LCOS) microdisplay solutions for applications in augmented reality (AR) and virtual reality (VR) headsets.