Himax Technologies (NASDAQ:HIMX) Shares Gap Down - Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $9.71, but opened at $9.44. Himax Technologies shares last traded at $9.07, with a volume of 1,622,519 shares.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their price objective on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an "outperform" rating in a research note on Friday.

Himax Technologies Trading Down 11.6 %

The firm has a market cap of $1.50 billion, a PE ratio of 19.51 and a beta of 2.07. 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 company has a 50 day simple moving average of $5.99 and a two-hundred day simple moving average of $6.34.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share 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 for the quarter, compared to the consensus estimate of $205.93 million. During the same quarter in the prior year, the company earned $0.06 EPS. Himax Technologies's quarterly revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. Summit Securities Group LLC grew its holdings in Himax Technologies by 1,400.0% during the second 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 during the period. Sanctuary Advisors LLC lifted its position in shares of Himax Technologies by 33.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company's stock valued at $102,000 after buying an additional 4,915 shares in the last quarter. Blue Trust Inc. raised 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 acquiring an additional 6,217 shares during the period. SG Americas Securities LLC raised its position in shares of Himax Technologies by 28.4% during the 2nd quarter. SG Americas Securities LLC now owns 31,728 shares of the semiconductor company's stock worth $252,000 after purchasing an additional 7,013 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Himax Technologies during the second quarter valued at approximately $79,000. 69.81% of the stock is owned by institutional investors and hedge funds.

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.