Himax Technologies (NASDAQ:HIMX) Shares Gap Up - What's Next?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $7.20, but opened at $7.74. Himax Technologies shares last traded at $8.32, with a volume of 928,333 shares.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price objective on shares of 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 Price Performance

The stock has a market capitalization of $1.44 billion, a PE ratio of 18.77 and a beta of 1.94. The company has a 50-day moving average of $6.81 and a two-hundred day moving average of $6.44. 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 data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. The company had revenue of $222.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Aprio Wealth Management LLC acquired a new position in Himax Technologies in the third quarter worth about $56,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $79,000. GAMMA Investing LLC raised its position in shares of Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company's stock valued at $83,000 after acquiring an additional 4,888 shares in the last quarter. Virtu Financial LLC bought a new position in Himax Technologies during the third quarter worth $98,000. Finally, Sanctuary Advisors LLC lifted its stake in Himax Technologies by 33.9% during the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 4,915 shares during the last quarter. 69.81% of the stock is currently owned by institutional investors.

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.