Himax Technologies (NASDAQ:HIMX) Trading 7.2% Higher – Here’s Why

Himax Technologies, Inc. (NASDAQ:HIMX) traded up 7.2% during mid-day trading on Wednesday . The stock traded as high as $10.08 and last traded at $10.19. 426,348 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,585,773 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HIMX shares. StockNews.com raised shares of Himax Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. 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 research report on Friday, December 13th.

Himax Technologies Stock Up 5.4 %

The company has a market cap of $1.75 billion, a P/E ratio of 22.19 and a beta of 2.00. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $9.33 and a 200 day moving average of $7.16.

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

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its holdings in Himax Technologies by 346.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock worth $31,153,000 after buying an additional 3,006,311 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Himax Technologies in the fourth quarter worth about $18,431,000. Soviero Asset Management LP purchased a new stake in shares of Himax Technologies during the fourth quarter worth about $4,020,000. Robeco Institutional Asset Management B.V. grew its position in shares of Himax Technologies by 32.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after purchasing an additional 407,400 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 226,386 shares during the period. 69.81% of the stock is owned by hedge funds and other institutional investors.

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.