Himax Technologies (NASDAQ:HIMX) Shares Up 8.1% – Should You Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) was up 8.1% during mid-day trading on Wednesday . The stock traded as high as $11.34 and last traded at $11.63. Approximately 1,493,061 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 4,968,938 shares. The stock had previously closed at $10.76.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their price target on shares of 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 stock has a market cap of $2.00 billion, a P/E ratio of 25.39 and a beta of 2.00. The business has a 50-day simple moving average of $8.81 and a 200 day simple moving average of $6.81. The company has a current ratio of 1.65, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results 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 business had revenue of $237.22 million for the quarter.

Himax Technologies announced that its board has authorized a stock buyback program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in Himax Technologies by 49.6% during 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 acquiring an additional 288,000 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Himax Technologies during the fourth quarter valued at $164,000. Public Employees Retirement System of Ohio bought a new stake in Himax Technologies during the third quarter valued at $1,125,000. Robeco Institutional Asset Management B.V. boosted 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 acquiring an additional 243,178 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 4,888 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.