Himax Technologies (NASDAQ:HIMX) Trading Up 7.2% – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price traded up 7.2% during mid-day trading on Wednesday . The company traded as high as $10.08 and last traded at $10.19. 426,348 shares traded hands during trading, a decline of 91% from the average session volume of 4,585,773 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HIMX. Robert W. Baird upped their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. StockNews.com raised shares of Himax Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th.

Himax Technologies Trading Down 5.2 %

The company has a market capitalization of $1.66 billion, a P/E ratio of 21.09 and a beta of 2.00. 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 fifty day moving average of $9.39 and a 200 day moving average of $7.20.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 EPS for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The business had revenue of $237.22 million during the quarter.

Himax Technologies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of hedge funds have recently modified their holdings of HIMX. Point72 Asset Management L.P. lifted its stake in shares of Himax Technologies by 49.6% during 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. purchased a new position in shares of Himax Technologies in the fourth quarter valued at about $164,000. Public Employees Retirement System of Ohio purchased a new position in shares of Himax Technologies in the third quarter valued at about $1,125,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Himax Technologies by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock worth $15,349,000 after acquiring an additional 243,178 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of 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 in the last quarter. 69.81% of the stock is currently 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.