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?
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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‘.