Himax Technologies (NASDAQ:HIMX) Sees Unusually-High Trading Volume – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) shares saw unusually-strong trading volume on Thursday . Approximately 2,635,045 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 2,715,728 shares.The stock last traded at $11.69 and had previously closed at $9.92.

Analysts Set New Price Targets

Separately, Robert W. Baird increased their price objective 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 22.0 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The business has a 50 day moving average price of $7.08 and a 200 day moving average price of $6.47. The firm has a market capitalization of $2.11 billion, a P/E ratio of 27.57 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (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 business had revenue of $222.40 million for the quarter, compared to analyst estimates of $205.93 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Himax Technologies’s revenue was down 6.8% compared to the same quarter last year.

Himax Technologies declared that its Board of Directors has initiated 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 repurchase up to 1.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Several large investors have recently added to or reduced their stakes in HIMX. Point72 Hong Kong Ltd acquired a new stake in Himax Technologies during the second quarter valued at approximately $5,817,000. Point72 Asset Management L.P. boosted its holdings in shares of Himax Technologies by 1,104.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock worth $4,609,000 after acquiring an additional 532,300 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Himax Technologies by 32.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after acquiring an additional 407,400 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after purchasing an additional 226,386 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Himax Technologies in the 3rd quarter valued at $1,125,000. Institutional investors and hedge funds own 69.81% of the company’s stock.

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.