Himax Technologies (NASDAQ:HIMX) Shares Up 6% - What's Next?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price was up 6% during trading on Friday . The company traded as high as $10.24 and last traded at $10.30. Approximately 1,937,273 shares were traded during trading, a decline of 62% from the average daily volume of 5,045,391 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th.

Himax Technologies Stock Up 4.2 %

The firm has a 50 day moving average price of $7.89 and a 200-day moving average price of $6.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 23.00 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $222.40 million for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.06 earnings per share.

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

Institutional Trading of Himax Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIMX. Robeco Institutional Asset Management B.V. grew its holdings in Himax Technologies by 32.4% during the third 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 period. Point72 Asset Management L.P. grew its holdings in shares of Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company's stock valued at $4,777,000 after buying an additional 288,000 shares during the period. BNP Paribas Financial Markets increased its position 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 buying an additional 226,386 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Himax Technologies during the 3rd quarter worth $1,125,000. Finally, Pinpoint Asset Management Ltd acquired a new position in Himax Technologies in the third quarter valued at about $236,000. 69.81% of the stock is owned by institutional investors.

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.