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

Morgan Stanley assumed coverage on shares of Himax Technologies (NASDAQ:HIMX) in a report published on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $8.80 target price 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 Price Performance

Shares of HIMX stock opened at $7.60 on Friday. The stock’s 50-day moving average is $7.51 and its 200 day moving average is $7.76. Himax Technologies has a 1-year low of $5.12 and a 1-year high of $13.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.43. The company has a market cap of $1.33 billion, a P/E ratio of 16.89 and a beta of 2.09.

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

Himax Technologies Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 11th. Investors 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 yield of 3.7%. Himax Technologies’s dividend payout ratio (DPR) is 75.51%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Himax Technologies in the fourth quarter worth about $28,000. Wealthquest Corp purchased a new position in shares of Himax Technologies in the 1st quarter valued at approximately $27,000. Barclays PLC boosted its stake in Himax Technologies by 38.8% in the 4th quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,187 shares in the last quarter. JNBA Financial Advisors acquired a new stake in Himax Technologies in the 1st quarter worth approximately $33,000. Finally, GAMMA Investing LLC grew its position in Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the last quarter. 69.81% of the stock is owned by institutional investors and hedge funds.

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.