Himax Technologies (NASDAQ:HIMX) Sees Strong Trading Volume - Should You Buy?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 2,635,045 shares changed hands during trading, a decline of 3% from the previous session's volume of 2,715,728 shares.The stock last traded at $11.69 and had previously closed at $9.92.

Wall Street Analysts Forecast Growth

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

Himax Technologies Stock Up 8.9 %

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

Himax Technologies (NASDAQ:HIMX - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share.

Himax Technologies announced that its board has initiated a stock repurchase 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 purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Himax Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its stake in Himax Technologies by 14.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company's stock valued at $15,349,000 after purchasing an additional 243,178 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Himax Technologies by 49.6% during the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company's stock worth $4,777,000 after acquiring an additional 288,000 shares during the last quarter. Stifel Financial Corp grew its position in shares of Himax Technologies by 4.8% during the third quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company's stock worth $2,588,000 after acquiring an additional 21,607 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Himax Technologies by 324.2% during the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company's stock worth $1,629,000 after acquiring an additional 226,386 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Himax Technologies by 67.0% during the second quarter. Renaissance Technologies LLC now owns 267,500 shares of the semiconductor company's stock worth $2,124,000 after acquiring an additional 107,300 shares during the last quarter. Institutional investors own 69.81% of the company's stock.

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.