StockNews.com Upgrades Himax Technologies (NASDAQ:HIMX) to Buy

StockNews.com upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a research report report published on Wednesday morning.

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

Himax Technologies Trading Down 5.5 %

Shares of HIMX stock opened at $10.63 on Wednesday. Himax Technologies has a 12-month low of $4.80 and a 12-month high of $13.91. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $9.05 and a 200-day moving average of $6.94. The firm has a market cap of $1.86 billion, a P/E ratio of 23.62 and a beta of 2.00.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The business had revenue of $237.22 million during the quarter.

Himax Technologies announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Himax Technologies

Institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its position in shares of Himax Technologies by 346.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock valued at $31,153,000 after purchasing an additional 3,006,311 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Himax Technologies during the 4th quarter valued at about $18,431,000. Soviero Asset Management LP bought a new stake in shares of Himax Technologies during the fourth quarter valued at about $4,020,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Himax Technologies by 32.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after buying an additional 407,400 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of 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. Hedge funds and other institutional investors own 69.81% of the company’s stock.

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.