Robert W. Baird Forecasts Strong Price Appreciation for Himax Technologies (NASDAQ:HIMX) Stock

Himax Technologies (NASDAQ:HIMX - Free Report) had its target price hoisted by Robert W. Baird from $7.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

Himax Technologies Price Performance

Shares of Himax Technologies stock traded down $1.12 during trading hours on Friday, reaching $8.59. The stock had a trading volume of 8,144,139 shares, compared to its average volume of 910,840. Himax Technologies has a twelve month low of $4.80 and a twelve month high of $9.80. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.50 billion, a PE ratio of 20.61 and a beta of 2.07. The stock's 50 day moving average is $5.93 and its 200 day moving average is $6.32.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. The firm had revenue of $222.40 million for 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 for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS.

Himax Technologies announced that its board has initiated a share buyback program on Wednesday, December 4th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC boosted its holdings in shares of Himax Technologies by 1,400.0% during the 2nd quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 4,200 shares during the last quarter. Blue Trust Inc. lifted its position in Himax Technologies by 77,712.5% during the second quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company's stock worth $49,000 after buying an additional 6,217 shares in the last quarter. Aprio Wealth Management LLC acquired a new position in Himax Technologies during the third quarter worth $56,000. Susquehanna Fundamental Investments LLC purchased a new stake in Himax Technologies in the 2nd quarter valued at $79,000. Finally, Virtu Financial LLC acquired a new stake in shares of Himax Technologies in the 3rd quarter worth $98,000. 69.81% of the stock is currently owned by institutional investors and hedge funds.

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.