Himax Technologies (NASDAQ:HIMX) Upgraded by StockNews.com to “Buy” Rating

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

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

Himax Technologies Price Performance

Himax Technologies stock opened at $11.38 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65. Himax Technologies has a 52 week low of $4.80 and a 52 week high of $13.91. The stock has a market capitalization of $1.99 billion, a P/E ratio of 25.29 and a beta of 2.00. The stock has a fifty day moving average of $8.98 and a 200-day moving average of $6.88.

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

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

Hedge Funds Weigh In On Himax Technologies

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in Himax Technologies by 6.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 217,927 shares of the semiconductor company’s stock valued at $1,752,000 after acquiring an additional 13,357 shares during the last quarter. Waverly Advisors LLC acquired a new position in shares of Himax Technologies in the 4th quarter valued at about $83,000. Vident Advisory LLC boosted its position in shares of Himax Technologies by 24.5% during the 4th quarter. Vident Advisory LLC now owns 112,818 shares of the semiconductor company’s stock valued at $907,000 after purchasing an additional 22,229 shares in the last quarter. Soviero Asset Management LP acquired a new stake in Himax Technologies during the fourth quarter worth approximately $4,020,000. Finally, Two Sigma Advisers LP increased its holdings in Himax Technologies by 25.8% in the fourth quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock worth $7,365,000 after purchasing an additional 187,600 shares in the last quarter. 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.