Himax Technologies (NASDAQ:HIMX) Trading Up 7.2% - Here's Why

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) shares were up 7.2% during mid-day trading on Friday . The stock traded as high as $5.53 and last traded at $5.51. Approximately 458,499 shares were traded during trading, a decline of 41% from the average daily volume of 783,648 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Himax Technologies from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.

Himax Technologies Stock Performance

The stock has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $6.31. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The company has a market cap of $943.51 million, a price-to-earnings ratio of 12.27 and a beta of 2.10.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. The firm had revenue of $222.40 million during 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%. Himax Technologies's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS.

Institutional Trading of Himax Technologies

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its holdings in Himax Technologies by 31.2% in the second quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company's stock valued at $26,728,000 after purchasing an additional 800,684 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position 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 in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Himax Technologies by 49.6% during 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 last quarter. Polunin Capital Partners Ltd acquired a new stake in shares of Himax Technologies during the second quarter worth approximately $6,358,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Himax Technologies in the second quarter worth $5,817,000. 69.81% of the stock is currently 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.