JPMorgan Chase & Co. Lowers Position in Himax Technologies, Inc. (NASDAQ:HIMX)

JPMorgan Chase & Co. cut its holdings in Himax Technologies, Inc. (NASDAQ:HIMX - Free Report) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,126 shares of the semiconductor company's stock after selling 90,613 shares during the quarter. JPMorgan Chase & Co. owned 0.09% of Himax Technologies worth $903,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in Himax Technologies by 33.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company's stock worth $102,000 after buying an additional 4,915 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Himax Technologies in the second quarter worth approximately $79,000. Aprio Wealth Management LLC purchased a new position in shares of Himax Technologies during the third quarter valued at approximately $56,000. Virtu Financial LLC bought a new position in Himax Technologies during the third quarter valued at approximately $98,000. Finally, Creative Planning raised its stake in Himax Technologies by 53.1% during the 2nd quarter. Creative Planning now owns 51,719 shares of the semiconductor company's stock valued at $411,000 after buying an additional 17,939 shares during the last quarter. 69.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price target on Himax Technologies from $7.00 to $15.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th.

Himax Technologies Stock Performance

Shares of NASDAQ HIMX traded up $1.05 during midday trading on Friday, hitting $12.85. 18,606,560 shares of the company's stock traded hands, compared to its average volume of 2,133,712. The firm has a fifty day moving average of $7.45 and a 200 day moving average of $6.54. Himax Technologies, Inc. has a 1 year low of $4.80 and a 1 year high of $13.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.21 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. The business had revenue of $222.40 million during the quarter, compared to analysts' expectations of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The firm's revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share.

Himax Technologies declared that its board has authorized a share buyback plan on Wednesday, December 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.