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Macquarie Analyst Bullish on Himax Technologies, Inc. (ADR) (HIMX), Rates ‘Outperform’

Traders are closely watching Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) after Macquarie initiated coverage on the name with an ‘Outperform’ rating and a $12 target price. Specifically, analyst Lynn Luo is bullish citing Himax’s exposure to the growing 3D sensing trend. The analyst believes 3D sensing will help Himax grow its margins as well as earnings. For 2017, Luo expects earnings to rise 32% and sales to increase 7%. For 2018, the analyst expects earnings to jump 55% and revenue to rise 26%. Currently shares of the Taiwanese semiconductor maker are up almost 40% year-to-date and yield around 1.55% at current prices.

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).

David Costen Haley‘s Hbk Investments started a stake of over 174,000 shares in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) in Q4. The fund was among 17 top funds that we track that were long Himax at the end of December.

The Bottom Line

Wall Street has been optimistic lately due to the 3D sensing trend, and Macquarie joined the party by giving Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) the thumbs up. For more reading, check out ‘10 most advanced countries in information technology‘.

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