Himax Technologies (NASDAQ:HIMX) Sees Strong Trading Volume - What's Next?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) shares saw an uptick in trading volume on Thursday . 2,635,045 shares changed hands during mid-day 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.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price objective on Himax Technologies from $7.00 to $15.00 and gave the company an "outperform" rating in a research note on Friday, December 13th.

Himax Technologies Trading Up 8.9 %

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 has a market capitalization of $2.25 billion, a PE ratio of 29.21 and a beta of 1.94. The business's 50-day moving average is $7.45 and its two-hundred day moving average is $6.56.

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

Himax Technologies declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of Himax Technologies

A number of institutional investors have recently modified their holdings of HIMX. Aprio Wealth Management LLC purchased a new position in Himax Technologies in the third quarter worth $56,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Himax Technologies in the 2nd quarter valued at about $79,000. GAMMA Investing LLC lifted its stake in shares of Himax Technologies by 90.5% in the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company's stock valued at $83,000 after purchasing an additional 4,888 shares during the period. Virtu Financial LLC purchased a new stake in Himax Technologies during the third quarter worth about $98,000. Finally, Foster Group Inc. purchased a new stake in Himax Technologies during the fourth quarter worth about $100,000. 69.81% of the stock is currently owned by hedge funds and other 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.