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.
What Does The Smart Money Sentiment Say?
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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.