Himax Technologies (NASDAQ:HIMX) Trading 7.2% Higher - Should You Buy?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price traded up 7.2% on Wednesday . The company traded as high as $10.08 and last traded at $10.19. 426,348 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 4,585,773 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their price objective 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. StockNews.com lowered shares of Himax Technologies from a "buy" rating to a "hold" rating in a research note on Friday.

Himax Technologies Trading Up 2.7 %

The company has a market cap of $1.70 billion, a price-to-earnings ratio of 21.67 and a beta of 2.13. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The company's 50-day moving average is $9.43 and its 200 day moving average is $7.24.

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

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Himax Technologies announced that its board has approved a stock 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Trading of Himax Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in shares of Himax Technologies by 2.7% in the fourth 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 during the period. Point72 Asset Management L.P. grew its position in shares of Himax Technologies by 346.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company's stock valued at $31,153,000 after purchasing an additional 3,006,311 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies in the fourth quarter valued at about $18,431,000. Robeco Institutional Asset Management B.V. grew its position in shares of Himax Technologies by 14.6% in the fourth 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 purchasing an additional 243,178 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Himax Technologies by 25.8% in the fourth quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company's stock valued at $7,365,000 after purchasing an additional 187,600 shares during the period. Institutional investors and hedge funds own 69.81% of the company's stock.

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.