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

StockNews.com upgraded shares of Himax Technologies (NASDAQ:HIMX - Free Report) from a hold rating to a buy rating in a research note published on Wednesday.

Separately, Robert W. Baird raised their price target on shares of 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 Price Performance

NASDAQ HIMX traded down $0.62 during trading hours on Wednesday, reaching $10.63. The company's stock had a trading volume of 3,839,754 shares, compared to its average volume of 5,035,450. Himax Technologies has a fifty-two week low of $4.80 and a fifty-two week high of $13.91. The stock has a market cap of $1.86 billion, a PE ratio of 23.62 and a beta of 2.00. The company's 50-day moving average is $9.01 and its two-hundred day moving average is $6.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter. Himax Technologies had a net margin of 8.80% and a return on equity of 9.09%. The company had revenue of $237.22 million for the quarter.

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

Institutional Investors Weigh In On Himax Technologies

Several hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its position in shares of Himax Technologies by 38.8% in the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 1,187 shares during the last quarter. Stifel Financial Corp raised its holdings in Himax Technologies by 0.3% in the fourth quarter. Stifel Financial Corp now owns 471,801 shares of the semiconductor company's stock valued at $3,793,000 after buying an additional 1,275 shares during the period. Northern Trust Corp raised its holdings in Himax Technologies by 19.3% in the fourth quarter. Northern Trust Corp now owns 17,439 shares of the semiconductor company's stock valued at $140,000 after buying an additional 2,823 shares during the period. SBI Securities Co. Ltd. purchased a new position in Himax Technologies in the fourth quarter valued at approximately $28,000. Finally, Signaturefd LLC raised its holdings in Himax Technologies by 34.8% in the fourth quarter. Signaturefd LLC now owns 13,437 shares of the semiconductor company's stock valued at $108,000 after buying an additional 3,468 shares during the period. 69.81% of the stock is 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.