Himax Technologies (NASDAQ:HIMX) Shares Gap Up – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $9.14, but opened at $10.01. Himax Technologies shares last traded at $10.16, with a volume of 3,350,574 shares trading hands.

Analyst Ratings Changes

Separately, Robert W. Baird raised 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 fifty day simple moving average of $8.73 and a 200-day simple moving average of $6.78. The company has a market cap of $1.90 billion, a PE ratio of 24.73 and a beta of 2.00. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%.

Himax Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMX. SBI Securities Co. Ltd. purchased a new position in shares of Himax Technologies during the fourth quarter worth about $28,000. Barclays PLC grew its holdings in shares of Himax Technologies by 38.8% during the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,187 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after buying an additional 4,888 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Himax Technologies during the third quarter worth about $98,000. Finally, Foster Group Inc. purchased a new position in shares of Himax Technologies during the fourth quarter worth about $100,000. Hedge funds and other institutional investors 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.