Market Overview

Vetr Downgrades Himax After Price Rebounds


The Vetr crowd on Monday downgraded its rating on Himax Technologies, Inc. (ADR) (NASDAQ: HIMX) from 4.5 stars (Strong Buy), issued two days ago, to 3.5 stars (Buy). Crowd sentiment at the time of the downgrade was edging cautious, with 57 percent of Vetr user rating bearish.

Entering September, Himax hit a five-day streak of positive closes after the company announced a partnership with QUALCOMM, Inc. (NASDAQ: QCOM) to produce a depth sensing camera. The rally brought Himax to a more than three-year high of $11.86 on September 6.

Shares dipped below $10 between then and the time of this downgrade on an unfavorable report from an analyst with Oppenheimer, before regaining some of those losses to close the September 11 trading day at $11.31.

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Currently, the Vetr crowd's average price target on Himax is down at $10.76, which is still above the average analyst price target of $8.88. Less than 2 percent of Vetr users are holding HIMX in their watch-lists.

Latest Ratings for HIMX

Mar 2020BairdReinstatesOutperform
Jan 2020Lake StreetUpgradesHoldBuy
Jan 2020Credit SuisseUpgradesUnderperformNeutral

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