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Yet Another Analyst Hikes His Price Target on Himax Technologies, Inc. (ADR) (HIMX)

A few days after Morgan Stanley hiked its price target on Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), Roth Capital is doing the same. After meeting with various industry contacts at supply chain and semiconductor companies, Suji Desilva believes Chinese demand for smartphones has stabilized and could help spur demand for small panel driver ICs. Furthermore, the analyst expects the launches of many flagship smartphones over the coming quarters to include 3D sensing, which could be an incremental sales opportunity (many traders expect the iPhone 8 to include 3D sensing, for example). Himax manufactures parts used in some 3-D sensors. Due to his research, Desilva upped his price target on Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) to $11 per share, from the previous $10 per share. Roth maintains its ‘Buy’ recommendation. For those of you interested, check out this article about smartphones with front facing speakers.

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What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

According to our data, elite funds weren’t as optimistic in the fourth quarter as they were in the third. Of the 742 elite funds we track, 17 funds owned $46.89 million of Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) and accounted for 4.50% of the float on December 31, versus 26 funds and $166.19 million respectively on September 30.

 

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