Nomura Securities Starts Himax Technologies (HIMX) at Buy
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Price: $14.98 +1.70%
Rating Summary:
6 Buy, 8 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
Rating Summary:
6 Buy, 8 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
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Earlier, Nomura Securities initiated coverage on Himax Technologies (NASDAQ: HIMX) with a Buy rating and $3.50 price target.
The firm cited the strong smartphone driver IC growth in China, improving OPM trend on better product mix and scale effects, and a potential re-rating from its planned listing in Taiwan in 2H13F.
"We believe Himax's non-driver chips should have started to bear fruit in FY12F, including ASP expansion in eDP T-con (new interface T-con used for NBs and tablets) and share gains in CMOS image sensors and touch controllers," analyst Peter Liao said. "Thanks to increased sales (scale effect), we expect margins of its non-driver ICs to grow significantly from 2H12F. In view of its historical payout ratio range of 60-100% and strong earnings growth potential, we estimate FY13F dividend yield will be more than 10%."
For an analyst ratings summary and ratings history on Himax Technologies click here. For more ratings news on Himax Technologies click here.
Shares of Himax Technologies closed at $1.81 yesterday.
The firm cited the strong smartphone driver IC growth in China, improving OPM trend on better product mix and scale effects, and a potential re-rating from its planned listing in Taiwan in 2H13F.
"We believe Himax's non-driver chips should have started to bear fruit in FY12F, including ASP expansion in eDP T-con (new interface T-con used for NBs and tablets) and share gains in CMOS image sensors and touch controllers," analyst Peter Liao said. "Thanks to increased sales (scale effect), we expect margins of its non-driver ICs to grow significantly from 2H12F. In view of its historical payout ratio range of 60-100% and strong earnings growth potential, we estimate FY13F dividend yield will be more than 10%."
For an analyst ratings summary and ratings history on Himax Technologies click here. For more ratings news on Himax Technologies click here.
Shares of Himax Technologies closed at $1.81 yesterday.
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