Himax Technologies (NASDAQ:HIMX) Sees Large Volume Increase – Here’s Why

Himax Technologies, Inc. (NASDAQ:HIMX) shares saw strong trading volume on Wednesday . 621,900 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 924,737 shares.The stock last traded at $8.20 and had previously closed at $7.73.

Analyst Ratings Changes

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

Himax Technologies Stock Up 2.5 %

The company has a market cap of $1.38 billion, a price-to-earnings ratio of 18.00 and a beta of 2.07. The business has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $6.36. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last posted its earnings results 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. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. During the same period in the previous year, the company earned $0.06 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis.

Himax Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC grew its stake in shares of Himax Technologies by 1,400.0% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 4,200 shares during the last quarter. Blue Trust Inc. boosted its holdings in Himax Technologies by 77,712.5% in the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 6,217 shares during the period. Aprio Wealth Management LLC acquired a new stake in Himax Technologies in the 3rd quarter worth $56,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Himax Technologies during the 2nd quarter worth about $79,000. Finally, Virtu Financial LLC acquired a new position in shares of Himax Technologies during the third quarter valued at about $98,000. 69.81% of the stock is owned by institutional investors.

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.