Himax Technologies (NASDAQ:HIMX) Stock Price Up 4.9% - Here's Why

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price was up 4.9% during trading on Tuesday . The company traded as high as $9.84 and last traded at $9.96. Approximately 579,352 shares changed hands during trading, a decline of 88% from the average daily volume of 4,755,322 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

Separately, Robert W. Baird raised their price objective 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.

Himax Technologies Stock Up 9.7 %

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 24.73 and a beta of 2.00. 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 business's 50-day moving average is $8.57 and its 200-day moving average is $6.73.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its 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 8.77% and a return on equity of 9.06%.

Himax Technologies announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management 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. Creative Planning boosted its stake in shares of Himax Technologies by 53.1% in the 2nd quarter. Creative Planning now owns 51,719 shares of the semiconductor company's stock valued at $411,000 after purchasing an additional 17,939 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Himax Technologies in the 2nd quarter valued at about $115,000. Blue Trust Inc. boosted its stake in shares of Himax Technologies by 377.5% in the 3rd quarter. Blue Trust Inc. now owns 29,725 shares of the semiconductor company's stock valued at $163,000 after purchasing an additional 23,500 shares during the last quarter. US Bancorp DE boosted its stake in shares of Himax Technologies by 1,239.6% in the 3rd quarter. US Bancorp DE now owns 24,032 shares of the semiconductor company's stock valued at $132,000 after purchasing an additional 22,238 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Himax Technologies by 32.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company's stock valued at $9,162,000 after purchasing an additional 407,400 shares during the last quarter. Institutional investors and hedge funds 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.