Himax Technologies (NASDAQ:HIMX) Stock Price Down 5.2% – Time to Sell?

Himax Technologies, Inc. (NASDAQ:HIMX) shares fell 5.2% during mid-day trading on Thursday . The company traded as low as $7.61 and last traded at $7.62. 312,124 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,834,854 shares. The stock had previously closed at $8.04.

Analyst Upgrades and Downgrades

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

Himax Technologies Stock Up 1.3 %

The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.32 billion, a PE ratio of 17.23 and a beta of 1.94. The business’s 50-day moving average price is $6.51 and its 200-day moving average price is $6.47.

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

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

Institutional Investors Weigh In On Himax Technologies

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Himax Technologies by 31.2% during the second quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock worth $26,728,000 after buying an additional 800,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Himax Technologies by 32.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after acquiring an additional 407,400 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of 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 acquiring an additional 288,000 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Himax Technologies in the 2nd quarter worth approximately $5,817,000. Finally, Stifel Financial Corp boosted its position in Himax Technologies by 4.8% during the third quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 21,607 shares during the period. Institutional investors own 69.81% of the company’s stock.

About Himax Technologies

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.