Could Himax Technologies, Inc. (HIMX) Go Down? The Stock Formed Bearish Double Bottom Pattern

September 8, 2018 - By Richard Slagle

The chart of Himax Technologies, Inc. (HIMX) shows a double bottom with $5.65 target or 6.00 % below today’s $6.01 share price. The 8 months chart pattern indicates high risk for the $1.03B company. It was reported on Sep, 8 by Finviz.com. If the $5.65 price target is reached, the company will be worth $62.04 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.91% or $0.18 during the last trading session, reaching $6.01. About 1.36M shares traded. Himax Technologies, Inc. (NASDAQ:HIMX) has risen 7.98% since September 8, 2017 and is uptrending. It has underperformed by 4.59% the S&P500.

Analysts await Himax Technologies, Inc. (NASDAQ:HIMX) to report earnings on November, 8. They expect $-0.02 EPS, down 200.00 % or $0.04 from last year’s $0.02 per share. After $0.01 actual EPS reported by Himax Technologies, Inc. for the previous quarter, Wall Street now forecasts -300.00 % negative EPS growth.

Himax Technologies, Inc. (NASDAQ:HIMX) Ratings Coverage

Among 6 analysts covering Himax Technologies (NASDAQ:HIMX), 1 have Buy rating, 1 Sell and 4 Hold. Therefore 17% are positive. Himax Technologies had 6 analyst reports since March 9, 2018 according to SRatingsIntel. The company was downgraded on Friday, March 9 by Nomura. The stock of Himax Technologies, Inc. (NASDAQ:HIMX) earned “Hold” rating by Northland Capital on Friday, March 9. Oppenheimer maintained Himax Technologies, Inc. (NASDAQ:HIMX) on Wednesday, March 28 with “Sell” rating. Robert W. Baird maintained the stock with “Buy” rating in Friday, June 1 report. The stock of Himax Technologies, Inc. (NASDAQ:HIMX) has “Neutral” rating given on Thursday, March 15 by Roth Capital. Macquarie Research downgraded Himax Technologies, Inc. (NASDAQ:HIMX) on Thursday, August 16 to “Neutral” rating.

More recent Himax Technologies, Inc. (NASDAQ:HIMX) news were published by: Nasdaq.com which released: “Himax Teams up with MediaTek and Megvii to Offer Industry’s First Active Stereo Camera 3D Sensing Reference …” on September 05, 2018. Also Nasdaq.com published the news titled: “New Research Coverage Highlights pdvWireless, Fortuna Silver Mines, Nordic American Tankers, Amarin, Himax …” on August 21, 2018. Nasdaq.com‘s news article titled: “Himax Technologies, Inc. to Attend Lake Street 2018 Best Ideas Growth (BIG) Conference on September 13th, 2018” with publication date: August 23, 2018 was also an interesting one.

Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies to consumer electronics worldwide. The company has market cap of $1.03 billion. The firm operates through Driver IC and Non-Driver Products divisions. It has a 39.8 P/E ratio. It offers display driver integrated circuits and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.

Himax Technologies, Inc. (NASDAQ:HIMX) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.