Himax Technologies, Inc. (NASDAQ:HIMX – Get Free Report) shot up 8.6% during mid-day trading on Tuesday . The stock traded as high as $9.69 and last traded at $9.62. 1,742,942 shares were traded during mid-day trading, a decline of 17% from the average session volume of 2,097,431 shares. The stock had previously closed at $8.85.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird increased their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 13th.
Read Our Latest Report on HIMX
Himax Technologies Price Performance
Himax Technologies (NASDAQ:HIMX – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $222.40 million during the quarter, compared to analyst estimates of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 earnings per share.
Himax Technologies announced that its board has initiated a stock repurchase program on Wednesday, December 4th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Institutional Trading of Himax Technologies
A number of hedge funds have recently added to or reduced their stakes in HIMX. Susquehanna Fundamental Investments LLC purchased a new stake in Himax Technologies in the 2nd quarter valued at about $79,000. Aprio Wealth Management LLC purchased a new stake in Himax Technologies in the third quarter valued at approximately $56,000. GAMMA Investing LLC increased its position in Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Himax Technologies during the second quarter worth approximately $115,000. Finally, Virtu Financial LLC purchased a new position in Himax Technologies during the third quarter worth approximately $98,000. 69.81% of the stock is owned by institutional investors and hedge funds.
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.
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