In a report released today, Tristan Gerra from Robert W. Baird reiterated a Buy rating on Himax Technologies (NASDAQ: HIMX), with a price target of $10. The company’s shares opened today at $5.91, close to its 52-week low of $5.61.
Gerra noted:
“We traveled with Himax’s management this week, tone of the meetings was incrementally bullish. We find current stock level very attractive in front of the company’s earnings/4Q guidance. Initial 3D sensing ramp is set for 4Q, while WLO shipment target remains on track for this year. Himax has secured new TDDI capacity at a leading foundry related to a recently firmed-up tier-one smartphone design win.”
According to TipRanks.com, Gerra is a 5-star analyst with an average return of 18.1% and a 55.9% success rate. Gerra covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Lattice Semicon, and Western Digital.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Himax Technologies with a $7.50 average price target, a 26.9% upside from current levels. In a report issued on October 1, Roth Capital also upgraded the stock to Buy.
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Himax Technologies’ market cap is currently $986.2M and has a P/E ratio of 37.09. The company has a Price to Book ratio of 2.25.
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Himax Technologies, Inc. engages in the development and trade of semiconductors. It operates through the Driver Integrated Circuit and Non-Driver Products segments.
