Himax Technologies (NASDAQ:HIMX) Stock Price Up 8.6% - What's Next?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) rose 8.6% during trading on Tuesday . The stock traded as high as $9.69 and last traded at $9.62. Approximately 1,742,942 shares were traded during trading, a decline of 17% from the average daily volume of 2,097,431 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price target on 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 Stock Performance

The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 26.82 and a beta of 1.94. 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 stock's 50 day moving average is $7.17 and its 200 day moving average is $6.49.

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 for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $222.40 million for the quarter, compared to analysts' expectations of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS.

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

Institutional Trading of Himax Technologies

Several large investors have recently modified their holdings of HIMX. Point72 Asset Management L.P. lifted its position in Himax Technologies by 49.6% during the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company's stock worth $4,777,000 after purchasing an additional 288,000 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Himax Technologies during the third quarter valued at approximately $1,125,000. Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies in the 2nd quarter valued at $5,817,000. GAMMA Investing LLC boosted its holdings in shares of Himax Technologies by 90.5% in the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company's stock valued at $83,000 after purchasing an additional 4,888 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Himax Technologies by 324.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company's stock valued at $1,629,000 after purchasing an additional 226,386 shares during the last quarter. 69.81% of the stock is owned by institutional investors and hedge funds.

About Himax Technologies

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.

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