Himax Technologies (NASDAQ:HIMX) Shares Up 5.1% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) shares shot up 5.1% on Thursday . The company traded as high as $8.85 and last traded at $9.00. 294,154 shares changed hands during trading, a decline of 82% from the average session volume of 1,667,957 shares. The stock had previously closed at $8.56.

Wall Street Analyst Weigh In

HIMX has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. StockNews.com downgraded Himax Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 7th.

Himax Technologies Stock Down 2.2 %

The company has a market capitalization of $1.48 billion, a P/E ratio of 18.80 and a beta of 2.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65. The stock has a 50 day moving average price of $9.60 and a 200 day moving average price of $7.42.

Himax Technologies (NASDAQ:HIMX) last issued 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 firm had revenue of $237.22 million for the quarter.

Himax Technologies declared that its board has authorized a stock repurchase program on Wednesday, December 4th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Himax Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. grew its stake in Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after buying an additional 288,000 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Himax Technologies in the fourth quarter worth $164,000. Public Employees Retirement System of Ohio purchased a new position in shares of Himax Technologies in the third quarter valued at $1,125,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Himax Technologies by 14.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after purchasing an additional 243,178 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in Himax Technologies during the 4th quarter worth about $167,000. 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.