Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $9.28, but opened at $10.02. Himax Technologies shares last traded at $9.76, with a volume of 1,663,414 shares trading hands.

Analyst Upgrades and Downgrades

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

Himax Technologies Price Performance

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’s fifty day moving average price is $7.71 and its two-hundred day moving average price is $6.58. The stock has a market capitalization of $1.67 billion, a PE ratio of 21.68 and a beta of 1.94.

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 analysts’ consensus estimates of $0.04 by $0.03. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. During the same period last year, the business posted $0.06 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis.

Himax Technologies announced that its board has initiated a share buyback plan on Wednesday, December 4th that permits the company to buyback $20.00 million in 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 often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aprio Wealth Management LLC bought a new position in Himax Technologies in the third quarter worth approximately $56,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Himax Technologies in the second quarter worth about $79,000. GAMMA Investing LLC lifted its position in shares of Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after buying an additional 4,888 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Himax Technologies during the 3rd quarter valued at approximately $98,000. Finally, Foster Group Inc. purchased a new stake in Himax Technologies in the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors 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.