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

Himax Technologies, Inc. (NASDAQ:HIMXGet Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $12.85, but opened at $10.40. Himax Technologies shares last traded at $9.23, with a volume of 7,122,316 shares traded.

Analysts Set New Price Targets

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

Check Out Our Latest Report on HIMX

Himax Technologies Stock Down 29.9 %

The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $7.45 and its 200-day moving average price is $6.54. The company has a market cap of $1.57 billion, a P/E ratio of 20.44 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMXGet Free Report) last announced its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The business had revenue of $222.40 million for the quarter, compared to analyst estimates of $205.93 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis.

Himax Technologies announced that its board has authorized a share buyback program on Wednesday, December 4th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Himax Technologies in the second quarter worth approximately $79,000. Aprio Wealth Management LLC purchased a new stake in Himax Technologies in the 3rd quarter valued at $56,000. GAMMA Investing LLC raised its position in Himax Technologies by 90.5% in the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after buying an additional 4,888 shares during the last quarter. Foster Group Inc. bought a new stake in shares of Himax Technologies in the 4th quarter worth $100,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Himax Technologies in the second quarter valued at about $115,000. Institutional investors and hedge funds own 69.81% of the company’s stock.

Himax Technologies Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Himax Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Himax Technologies and related companies with MarketBeat.com's FREE daily email newsletter.