Himax Technologies (NASDAQ:HIMX) Stock Price Up 8.6% – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX) traded up 8.6% on Tuesday . The company traded as high as $9.69 and last traded at $9.62. 1,742,942 shares were traded during mid-day trading, a decline of 17% from the average session volume of 2,097,431 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

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

Himax Technologies Stock Performance

The firm has a fifty day moving average of $7.17 and a 200-day moving average of $6.49. 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 cap of $2.06 billion, a P/E ratio of 26.82 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last released its 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. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $205.93 million. During the same quarter in the previous year, the business earned $0.06 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year.

Himax Technologies declared that its board has initiated a share repurchase plan on Wednesday, December 4th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its holdings 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 valued at $15,349,000 after purchasing an additional 243,178 shares during the last quarter. Point72 Asset Management L.P. grew its position in 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. Point72 Hong Kong Ltd bought a new stake in Himax Technologies during the 2nd quarter worth about $5,817,000. Stifel Financial Corp lifted its position in Himax Technologies by 4.8% during the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after buying an additional 21,607 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock worth $1,629,000 after buying an additional 226,386 shares during the last quarter. 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.