Himax Technologies (NASDAQ:HIMX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.42 and traded as high as $8.25. Himax Technologies shares last traded at $7.96, with a volume of 1,072,233 shares traded.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted 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.

Himax Technologies Stock Down 2.0 %

The firm’s fifty day moving average is $6.34 and its 200-day moving average is $6.43. The stock has a market capitalization of $1.39 billion, a PE ratio of 18.09 and a beta of 2.07. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly 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 net margin of 8.77% and a return on equity of 9.06%. The business had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $205.93 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis.

Himax Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Himax Technologies

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in Himax Technologies by 31.2% in the 2nd quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock valued at $26,728,000 after acquiring an additional 800,684 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Himax Technologies during the 2nd quarter worth approximately $513,000. Envestnet Asset Management Inc. lifted its stake in Himax Technologies by 20.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 222,533 shares of the semiconductor company’s stock valued at $1,767,000 after buying an additional 38,457 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Himax Technologies by 67.0% during the 2nd quarter. Renaissance Technologies LLC now owns 267,500 shares of the semiconductor company’s stock valued at $2,124,000 after buying an additional 107,300 shares during the last quarter. Finally, Sei Investments Co. increased its position in Himax Technologies by 115.6% during the second quarter. Sei Investments Co. now owns 64,926 shares of the semiconductor company’s stock worth $516,000 after buying an additional 34,812 shares in the last quarter. Institutional investors and hedge funds 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.