Investors Purchase Large Volume of Call Options on Himax Technologies (NASDAQ:HIMX)

Himax Technologies, Inc. (NASDAQ:HIMX) saw some unusual options trading activity on Tuesday. Traders bought 11,481 call options on the company. This represents an increase of 133% compared to the average volume of 4,934 call options.

Analysts Set New Price Targets

Separately, Robert W. Baird increased their target price on shares of 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 Down 5.3 %

Shares of NASDAQ HIMX opened at $9.14 on Thursday. The firm has a market cap of $1.60 billion, a P/E ratio of 20.77 and a beta of 2.00. The firm’s 50 day moving average price is $8.51 and its 200 day moving average price is $6.71. Himax Technologies has a 1 year low of $4.80 and a 1 year high of $13.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64.

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

Hedge Funds Weigh In On Himax Technologies

Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of Himax Technologies in the 4th quarter valued at $28,000. GAMMA Investing LLC increased its position in shares of Himax Technologies by 90.5% in the 4th 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. Virtu Financial LLC bought a new stake in shares of Himax Technologies in the 3rd quarter worth about $98,000. Foster Group Inc. bought a new stake in shares of Himax Technologies in the 4th quarter worth about $100,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Himax Technologies by 33.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 4,915 shares during the period. Hedge funds and other institutional investors own 69.81% of the company’s stock.

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.