Credit Suisse slashes price target on Himax Technologies Inc. [HIMX] – find out why.

Himax Technologies Inc. [NASDAQ: HIMX] plunged by -$0.19 during the normal trading session on Thursday and reaching a high of $5.01 during the day while it closed the day at $4.90. The company report on September 20, 2022 that Himax HX83121-A Tablet TDDI Adoption Expanded by Xiaomi for their Latest Premium Tablet and 2-in-1 Laptop.

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Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that Xiaomi has expanded the adoption of Himax proprietary HX83121-A tablet TDDI solution to their latest premium Xiaomi Pad 5 Pro 12.4 tablet and Xiaomi Book S 12.4 2-in-1 laptop.

Himax HX83121-A is the industry first tablet TDDI in mass production that supports high frame rate and high precision active stylus features. It is also the world’s first tablet TDDI chip with built-in VESA DSC (Data Stream Compression) image decompression IP which offers high frame rate and visually lossless performance for mobile streaming enablement. The VESA DSC IP of HX83121-A can connect with application processors of Intel, Qualcomm, and MediaTek, and has been introduced into mass production in many leading tablet products. Not only does the HX83121-A support mainstream resolution and frame rate, such as WUXGA 60Hz or WQXGA 60Hz, but it can also scale up to 120Hz frame rate of the same resolution, or even to WQXGA 144Hz, 2.8K 120Hz or 4K 60Hz.

Himax Technologies Inc. stock has also loss -5.95% of its value over the past 7 days. However, HIMX stock has declined by -34.49% in the 3 months of the year. Over the past six months meanwhile, it has lost -55.33% and lost -69.36% year-on date.

The market cap for HIMX stock reached $867.40 million, with 174.30 million shares outstanding and 121.76 million shares in the current float. Compared to the average trading volume of 2.08M shares, HIMX reached a trading volume of 2640156 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Himax Technologies Inc. [HIMX]:

Credit Suisse have made an estimate for Himax Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 14, 2022. The new note on the price target was released on April 07, 2022, representing the official price target for Himax Technologies Inc. stock.

The Average True Range (ATR) for Himax Technologies Inc. is set at 0.21, with the Price to Sales ratio for HIMX stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 2.61. Price to Free Cash Flow for HIMX in the course of the last twelve months was 3.26 with Quick ratio for the last quarter at 1.40.

HIMX stock trade performance evaluation

Himax Technologies Inc. [HIMX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.95. With this latest performance, HIMX shares dropped by -22.35% in over the last four-week period, additionally sinking by -55.33% over the last 6 months – not to mention a drop of -51.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HIMX stock in for the last two-week period is set at 25.50, with the RSI for the last a single of trading hit 21.67, and the three-weeks RSI is set at 29.21 for Himax Technologies Inc. [HIMX]. The present Moving Average for the last 50 days of trading for this stock 6.33, while it was recorded at 5.03 for the last single week of trading, and 9.24 for the last 200 days.

Himax Technologies Inc. [HIMX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Himax Technologies Inc. [HIMX] shares currently have an operating margin of +35.23 and a Gross Margin at +47.41. Himax Technologies Inc.’s Net Margin is presently recorded at +28.24.

Return on Equity for this stock inclined to 64.86, with Return on Assets sitting at 34.84.

Himax Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.80.

Himax Technologies Inc. [HIMX]: Insider Ownership positions

There are presently around $150 million, or 19.20% of HIMX stock, in the hands of institutional investors. The top three institutional holders of HIMX stocks are: YIHENG CAPITAL MANAGEMENT, L.P. with ownership of 6,423,445, which is approximately -17% of the company’s market cap and around 12.30% of the total institutional ownership; ALLIANCEBERNSTEIN L.P., holding 3,890,673 shares of the stock with an approximate value of $19.06 million in HIMX stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $17.6 million in HIMX stock with ownership of nearly -10.54% of the company’s market capitalization.

Positions in Himax Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 61 institutional holders increased their position in Himax Technologies Inc. [NASDAQ:HIMX] by around 5,474,740 shares. Additionally, 80 investors decreased positions by around 11,749,220 shares, while 32 investors held positions by with 13,366,118 shares. The mentioned changes placed institutional holdings at 30,590,078 shares, according to the latest SEC report filing. HIMX stock had 25 new institutional investments in for a total of 1,358,150 shares, while 33 institutional investors sold positions of 2,299,488 shares during the same period.


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