Himax Technologies (NASDAQ:HIMX) Sees Large Volume Increase - Here's Why

Shares of Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 621,900 shares were traded during mid-day trading, a decline of 33% from the previous session's volume of 924,737 shares.The stock last traded at $8.20 and had previously closed at $7.73.

Wall Street Analysts Forecast Growth

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

Himax Technologies Stock Down 1.2 %

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's 50 day simple moving average is $6.07 and its 200 day simple moving average is $6.36. The firm has a market cap of $1.33 billion, a P/E ratio of 17.36 and a beta of 2.07.

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 the consensus estimate of $0.04 by $0.03. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm's revenue for the quarter was down 6.8% on a year-over-year basis.

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

Institutional Investors Weigh In On Himax Technologies

Institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC grew its stake in shares of Himax Technologies by 1,400.0% in the 2nd quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 4,200 shares in the last quarter. Blue Trust Inc. increased its stake in Himax Technologies by 77,712.5% in the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company's stock valued at $49,000 after buying an additional 6,217 shares during the last quarter. Aprio Wealth Management LLC bought a new position in shares of Himax Technologies during the 3rd quarter worth approximately $56,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Himax Technologies in the 2nd quarter worth approximately $79,000. Finally, Virtu Financial LLC bought a new position in shares of Himax Technologies in the third quarter valued at approximately $98,000. Institutional investors own 69.81% of the company's stock.

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.