Bank of America Downgrades Himax Technologies, Inc. to Underperform
On Tuesday, Bank of America downgraded shares of Himax Technologies (NASDAQ: HIMX) from Buy to Underperform and lowered the price target from $17.58 to $12.50.
Analyst Daniel Heyler said progress on liquid crystal on silicon may not be fast enough; the slow progress means growth may not come until 2015 or 2016 rather than in the second half of 2014.
The stock finished down 11.8 percent on Tuesday, and is down 15.6 percent on the week.
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