Himax Technologies (NASDAQ:HIMX) Shares Up 8.1% – Should You Buy?

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) shot up 8.1% during mid-day trading on Wednesday . The stock traded as high as $11.34 and last traded at $11.63. 1,493,061 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 4,968,938 shares. The stock had previously closed at $10.76.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price target on 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 Performance

The stock has a 50 day moving average of $8.81 and a 200 day moving average of $6.81. 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 firm has a market cap of $2.00 billion, a price-to-earnings ratio of 25.39 and a beta of 2.00.

Himax Technologies (NASDAQ:HIMX) last released 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 firm had revenue of $237.22 million for the quarter.

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

Institutional Trading of Himax Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in HIMX. Point72 Asset Management L.P. lifted its holdings in shares of Himax Technologies by 346.1% during 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 acquiring an additional 3,006,311 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Himax Technologies during the 4th quarter worth approximately $18,431,000. Soviero Asset Management LP bought a new stake in shares of Himax Technologies during the 4th quarter worth approximately $4,020,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Himax Technologies by 32.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after acquiring an additional 407,400 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock worth $1,629,000 after acquiring an additional 226,386 shares during the period. Institutional investors own 69.81% of the company’s stock.

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.