NEW YORK (TheStreet) -- Himax Technologies (HIMX - Get Report) stock is falling on Thursday after receiving a downgrade to "hold" from Craig Hallum. The firm downgraded the stock on the assumption Google is moving in a "different direction." The stock's price target was decreased to $7 from $10.
By midmorning, shares had dropped 3.9% to $6.38.
Must read: Warren Buffett's 25 Favorite Stocks
- HIMX's revenue growth has slightly outpaced the industry average of 3.2%. Since the same quarter one year prior, revenues rose by 10.8%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- HIMX's debt-to-equity ratio is very low at 0.23 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, HIMX has a quick ratio of 1.56, which demonstrates the ability of the company to cover short-term liquidity needs.
- HIMAX TECHNOLOGIES INC has improved earnings per share by 12.5% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, HIMAX TECHNOLOGIES INC increased its bottom line by earning $0.35 versus $0.30 in the prior year. This year, the market expects an improvement in earnings ($0.46 versus $0.35).
- The net income growth from the same quarter one year ago has exceeded that of the Semiconductors & Semiconductor Equipment industry average, but is less than that of the S&P 500. The net income increased by 12.0% when compared to the same quarter one year prior, going from $14.03 million to $15.71 million.
- You can view the full analysis from the report here: HIMX Ratings Report