Himax Technologies (NASDAQ:HIMX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a research report released on Wednesday morning.

Separately, Robert W. Baird lifted their price objective 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 Performance

Shares of Himax Technologies stock opened at $11.38 on Wednesday. The business has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $6.88. Himax Technologies has a one year low of $4.80 and a one year high of $13.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.43. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 25.29 and a beta of 2.00.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings data 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 firm had revenue of $237.22 million during the quarter.

Himax Technologies declared that its board 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 reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Himax Technologies

Several institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its position in Himax Technologies by 2.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock worth $35,033,000 after purchasing an additional 116,088 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Himax Technologies by 346.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock valued at $31,153,000 after purchasing an additional 3,006,311 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Himax Technologies in the 4th quarter worth about $18,431,000. Robeco Institutional Asset Management B.V. grew its position in Himax Technologies by 14.6% during 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 buying an additional 243,178 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Himax Technologies by 25.8% during the fourth quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock worth $7,365,000 after buying an additional 187,600 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.