Himax Technologies (NASDAQ:HIMX) Stock Price Up 6% – Here’s Why

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price rose 6% on Friday . The stock traded as high as $10.24 and last traded at $10.30. Approximately 1,937,273 shares changed hands during trading, a decline of 62% from the average daily volume of 5,045,391 shares. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped 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 4.2 %

The firm has a market cap of $1.77 billion, a PE ratio of 23.00 and a beta of 1.94. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $7.89 and its 200-day moving average is $6.60.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, beating 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 firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $205.93 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year.

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

Institutional Investors Weigh In On Himax Technologies

A number of institutional investors have recently added to or reduced their stakes in HIMX. Robeco Institutional Asset Management B.V. raised its stake in shares of Himax Technologies by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after acquiring an additional 243,178 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Himax Technologies by 49.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after buying an additional 288,000 shares during the period. Stifel Financial Corp boosted its holdings in Himax Technologies by 4.8% in the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after acquiring an additional 21,607 shares during the period. BNP Paribas Financial Markets grew its position in Himax Technologies by 324.2% in the third 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 in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Himax Technologies by 20.9% during the second quarter. Envestnet Asset Management Inc. now owns 222,533 shares of the semiconductor company’s stock valued at $1,767,000 after purchasing an additional 38,457 shares during the period. Hedge funds and other institutional investors own 69.81% of the company’s stock.

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.