Himax Technologies (NASDAQ:HIMX) Shares Up 8.1% - Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price shot up 8.1% during trading on Wednesday . The company traded as high as $11.34 and last traded at $11.63. 1,493,061 shares were traded during mid-day trading, a decline of 70% from the average session volume of 4,968,938 shares. The stock had previously closed at $10.76.

Analyst Upgrades and Downgrades

A number of research firms have commented on HIMX. Robert W. Baird raised their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. StockNews.com raised shares of Himax Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday.

Himax Technologies Trading Down 5.5 %

The company has a market capitalization of $1.86 billion, a P/E ratio of 23.62 and a beta of 2.00. The firm's 50-day moving average price is $9.05 and its 200 day moving average price is $6.94. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share for the quarter. Himax Technologies had a net margin of 8.80% and a return on equity of 9.09%. The business had revenue of $237.22 million for the quarter.

Himax Technologies declared that its board has authorized a share buyback 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 repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. SBI Securities Co. Ltd. purchased a new position in Himax Technologies in the fourth quarter valued at about $28,000. Barclays PLC boosted its stake in Himax Technologies by 38.8% in the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 1,187 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 4,888 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Himax Technologies during the 4th quarter valued at approximately $83,000. Finally, Virtu Financial LLC purchased a new stake in shares of Himax Technologies during the 3rd quarter valued at approximately $98,000. 69.81% of the stock is currently owned by hedge funds and other 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.