Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $7.20, but opened at $7.74. Himax Technologies shares last traded at $8.32, with a volume of 928,333 shares traded.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their target price on Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

Himax Technologies Stock Up 6.2 %

The stock has a 50-day moving average of $6.87 and a two-hundred day moving average of $6.46. The company has a market cap of $1.53 billion, a P/E ratio of 19.93 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64.

Himax Technologies (NASDAQ:HIMX) last released its 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. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. During the same quarter in the previous year, the company posted $0.06 EPS. Himax Technologies’s quarterly revenue was down 6.8% compared to the same quarter last year.

Himax Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Himax Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of HIMX. Aprio Wealth Management LLC bought a new stake in Himax Technologies in the third quarter valued at approximately $56,000. Susquehanna Fundamental Investments LLC bought a new stake in Himax Technologies in the second quarter valued at approximately $79,000. GAMMA Investing LLC lifted its position in Himax Technologies by 90.5% in the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 4,888 shares during the last quarter. Virtu Financial LLC bought a new stake in Himax Technologies in the third quarter valued at approximately $98,000. Finally, Sanctuary Advisors LLC lifted its position in Himax Technologies by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 4,915 shares during the last quarter. 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.