Himax Technologies Target of Unusually High Options Trading (NASDAQ:HIMX)

Himax Technologies, Inc. (NASDAQ:HIMX) saw some unusual options trading on Wednesday. Stock traders acquired 6,666 call options on the stock. This is an increase of 137% compared to the typical volume of 2,812 call options.

Himax Technologies Stock Up 10.8 %

Shares of HIMX traded up $1.04 during mid-day trading on Wednesday, reaching $10.60. The company’s stock had a trading volume of 1,934,850 shares, compared to its average volume of 2,190,335. The company’s 50 day moving average is $7.00 and its 200 day moving average is $6.46. Himax Technologies has a 12-month low of $4.80 and a 12-month high of $10.65. The stock has a market cap of $1.85 billion, a PE ratio of 24.07 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The business had revenue of $222.40 million during the quarter, compared to analyst estimates of $205.93 million. During the same period last year, the company posted $0.06 EPS. The company’s revenue was down 6.8% compared to the same quarter last year.

Himax Technologies announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIMX. Point72 Hong Kong Ltd bought a new stake in shares of Himax Technologies in the 2nd quarter worth approximately $5,817,000. Point72 Asset Management L.P. boosted its stake in Himax Technologies by 1,104.4% during the second quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock worth $4,609,000 after buying an additional 532,300 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Himax Technologies by 32.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock valued at $9,162,000 after buying an additional 407,400 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Himax Technologies by 324.2% in the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after acquiring an additional 226,386 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Himax Technologies during the third quarter valued at approximately $1,125,000. Institutional investors and hedge funds own 69.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price objective on shares of Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

Himax Technologies Company Profile

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, and other products.