Himax Technologies (NASDAQ:HIMX) Upgraded at StockNews.com

StockNews.com upgraded shares of Himax Technologies (NASDAQ:HIMX) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

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

Himax Technologies Stock Performance

NASDAQ HIMX opened at $10.63 on Wednesday. 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 fifty day simple moving average of $9.05 and a 200 day simple moving average of $6.94. Himax Technologies has a 12-month low of $4.80 and a 12-month high of $13.91. The company has a market cap of $1.86 billion, a P/E ratio of 23.62 and a beta of 2.00.

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

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Himax Technologies in the 4th quarter valued at about $28,000. Barclays PLC increased its position in shares of Himax Technologies by 38.8% during the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,187 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 4,888 shares during the last quarter. Waverly Advisors LLC bought a new stake in Himax Technologies during the fourth quarter worth $83,000. Finally, Foster Group Inc. purchased a new position in Himax Technologies in the fourth quarter worth $100,000. 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.