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

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) gapped up prior to trading on Tuesday . The stock had previously closed at $9.28, but opened at $10.02. Himax Technologies shares last traded at $9.76, with a volume of 1,663,414 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their target price 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 1.1 %

The stock has a fifty day moving average of $7.45 and a 200 day moving average of $6.54. The firm has a market capitalization of $1.64 billion, a P/E ratio of 21.35 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 issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $222.40 million for 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%. Himax Technologies’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share.

Himax Technologies announced that its board has initiated a share buyback program on Wednesday, December 4th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to purchase 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 stock is undervalued.

Institutional Trading of Himax Technologies

A number of large investors have recently bought and sold shares of HIMX. Point72 Asset Management L.P. grew its position in shares of Himax Technologies by 49.6% in the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after purchasing an additional 288,000 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Himax Technologies during the fourth quarter valued at $164,000. Public Employees Retirement System of Ohio bought a new stake in Himax Technologies during the third quarter valued at $1,125,000. GAMMA Investing LLC lifted its stake in Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Himax Technologies by 4.8% in the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock valued at $2,588,000 after acquiring an additional 21,607 shares during the last quarter. 69.81% of the stock is owned by hedge funds and other 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.