Himax Technologies (NASDAQ:HIMX) Sets New 1-Year High - Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $10.57 and last traded at $10.61, with a volume of 955483 shares. The stock had previously closed at $9.56.

Analyst Ratings Changes

Separately, Robert W. Baird increased 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

The firm's 50 day simple moving average is $7.45 and its 200 day simple moving average is $6.56. The firm has a market cap of $2.25 billion, a PE ratio of 29.21 and a beta of 1.94. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

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

Himax Technologies announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 4th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Trading of Himax Technologies

A number of large investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. grew its position in Himax Technologies by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company's stock worth $15,349,000 after acquiring an additional 243,178 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company's stock valued at $4,777,000 after purchasing an additional 288,000 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Himax Technologies by 4.8% in the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company's stock worth $2,588,000 after purchasing an additional 21,607 shares during the period. BNP Paribas Financial Markets increased its position in shares of 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 during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Himax Technologies by 67.0% during the 2nd quarter. Renaissance Technologies LLC now owns 267,500 shares of the semiconductor company's stock valued at $2,124,000 after buying an additional 107,300 shares during the period. 69.81% of the stock is currently owned by institutional investors.

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.