Redwood Wealth Management Group LLC Cuts Stock Position in Himax Technologies, Inc. (NASDAQ:HIMX)

Redwood Wealth Management Group LLC lessened its stake in shares of Himax Technologies, Inc. (NASDAQ:HIMX) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,060 shares of the semiconductor company’s stock after selling 3,517 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Himax Technologies were worth $669,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HIMX. Aprio Wealth Management LLC purchased a new position in Himax Technologies in the third quarter worth $56,000. GAMMA Investing LLC raised its position in Himax Technologies by 90.5% in the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 4,888 shares in the last quarter. Foster Group Inc. purchased a new position in Himax Technologies in the fourth quarter worth $100,000. Sanctuary Advisors LLC purchased a new position in Himax Technologies in the second quarter worth $115,000. Finally, Virtu Financial LLC purchased a new position in Himax Technologies in the third quarter worth $98,000. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Analyst Ratings Changes

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

Himax Technologies Trading Up 10.6 %

Shares of HIMX stock opened at $10.30 on Wednesday. The stock has a market cap of $1.80 billion, a P/E ratio of 23.41 and a beta of 2.00. 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, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $13.91. The business has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $6.63.

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

Himax Technologies declared that its board has initiated a stock repurchase program on Wednesday, December 4th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.