Himax Technologies (NASDAQ:HIMX) Trading Up 7.6% - Here's What Happened

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price traded up 7.6% on Friday . The company traded as high as $6.67 and last traded at $6.65. 313,771 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 790,621 shares. The stock had previously closed at $6.18.

Himax Technologies Stock Up 8.3 %

The firm has a market cap of $1.17 billion, a P/E ratio of 15.20 and a beta of 2.07. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The company's 50 day simple moving average is $5.77 and its 200-day simple moving average is $6.29.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its 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. The company 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%. Himax Technologies's 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 EPS.

Himax Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Himax Technologies

Large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC boosted its position in Himax Technologies by 1,400.0% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company's stock valued at $36,000 after buying an additional 4,200 shares during the last quarter. Blue Trust Inc. lifted its stake in Himax Technologies by 77,712.5% during the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company's stock valued at $49,000 after acquiring an additional 6,217 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Himax Technologies in the 2nd quarter valued at $79,000. Aprio Wealth Management LLC acquired a new stake in shares of Himax Technologies in the third quarter worth $56,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Himax Technologies during the second quarter worth $115,000. Hedge funds and other 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.