Himax Technologies (NASDAQ:HIMX) Trading Up 8.1% – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) was up 8.1% on Wednesday . The stock traded as high as $11.34 and last traded at $11.63. Approximately 1,493,061 shares traded hands during trading, a decline of 70% from the average daily volume of 4,968,938 shares. The stock had previously closed at $10.76.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HIMX shares. Robert W. Baird raised their price objective on Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 13th. StockNews.com raised Himax Technologies from a “hold” rating to a “buy” rating in a report on Wednesday.

Himax Technologies Stock Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of 23.62 and a beta of 2.00. The company has a current ratio of 1.65, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $9.05 and a 200-day moving average of $6.94.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $237.22 million during the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%.

Himax Technologies declared that its Board of Directors 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 repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. grew its stake in Himax Technologies by 346.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock worth $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 during the 4th quarter worth approximately $18,431,000. Soviero Asset Management LP acquired a new stake in shares of Himax Technologies during the 4th quarter worth approximately $4,020,000. Robeco Institutional Asset Management B.V. increased its stake 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 acquiring an additional 407,400 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after acquiring an additional 226,386 shares during the period. 69.81% of the stock is owned by institutional investors.

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.