Himax Technologies (NASDAQ:HIMX) Trading Down 5.6% - What's Next?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price dropped 5.6% during trading on Wednesday . The stock traded as low as $8.84 and last traded at $8.93. Approximately 629,907 shares were traded during trading, a decline of 85% from the average daily volume of 4,214,694 shares. The stock had previously closed at $9.46.

Analyst Ratings Changes

Several equities analysts have issued reports on HIMX shares. Robert W. Baird upped their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. StockNews.com cut shares of Himax Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

Himax Technologies Stock Down 2.2 %

The stock has a 50-day moving average price of $9.60 and a 200-day moving average price of $7.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.43. The company has a market capitalization of $1.48 billion, a P/E ratio of 18.80 and a beta of 2.13.

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 (EPS) for the quarter. Himax Technologies had a net margin of 8.80% and a return on equity of 9.09%. The firm had revenue of $237.22 million during the quarter.

Remove Ads

Himax Technologies announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Institutional Trading of Himax Technologies

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its position in shares of Himax Technologies by 2.7% during the 4th quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company's stock valued at $35,033,000 after purchasing an additional 116,088 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Himax Technologies by 346.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company's stock worth $31,153,000 after purchasing an additional 3,006,311 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies in the 4th quarter valued at about $18,431,000. Robeco Institutional Asset Management B.V. increased its position in Himax Technologies by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company's stock valued at $15,349,000 after buying an additional 243,178 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Himax Technologies by 25.8% during the 4th quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company's stock worth $7,365,000 after buying an additional 187,600 shares during the period. 69.81% of the stock is currently 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.