Himax Technologies (NASDAQ:HIMX) Stock Price Up 4.4% - Here's What Happened

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $5.93 and last traded at $5.91. 213,191 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 788,598 shares. The stock had previously closed at $5.66.

Wall Street Analysts Forecast Growth

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

Himax Technologies Trading Up 3.9 %

The company has a 50 day moving average of $5.71 and a two-hundred day moving average of $6.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.32 and a current ratio of 1.58. The stock has a market capitalization of $1.03 billion, a PE ratio of 21.70 and a beta of 2.11.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its earnings results on Friday, August 9th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. Himax Technologies had a return on equity of 8.94% and a net margin of 8.42%. The firm had revenue of $239.60 million for the quarter, compared to the consensus estimate of $232.78 million. During the same period in the previous year, the business earned $0.01 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis.

Institutional Trading of Himax Technologies

Several large investors have recently added to or reduced their stakes in HIMX. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Himax Technologies during the 1st quarter valued at about $5,182,000. Polunin Capital Partners Ltd purchased a new stake in Himax Technologies during the 2nd quarter valued at about $6,358,000. Acadian Asset Management LLC grew its stake in Himax Technologies by 31.2% during the 2nd 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. Point72 Hong Kong Ltd purchased a new stake in Himax Technologies during the 2nd quarter valued at about $5,817,000. Finally, Point72 Asset Management L.P. grew its stake in Himax Technologies by 1,104.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company's stock valued at $4,609,000 after purchasing an additional 532,300 shares during the last quarter. Hedge funds and other institutional investors 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.