Himax Technologies (NASDAQ:HIMX) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX) shares passed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their target price on shares of 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

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.09 and a beta of 2.07. The firm has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $6.43.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The firm had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. During the same period last year, the company earned $0.06 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has approved a share repurchase program on Wednesday, December 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Himax Technologies

Institutional investors have recently modified their holdings of the company. Aprio Wealth Management LLC purchased a new position in Himax Technologies during the 3rd quarter valued at about $56,000. Susquehanna Fundamental Investments LLC purchased a new stake in Himax Technologies during the 2nd quarter worth approximately $79,000. Virtu Financial LLC acquired a new stake in Himax Technologies during the 3rd quarter worth approximately $98,000. Sanctuary Advisors LLC boosted its position in Himax Technologies by 33.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 4,915 shares during the period. Finally, US Bancorp DE grew its stake in shares of Himax Technologies by 1,239.6% in the third quarter. US Bancorp DE now owns 24,032 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 22,238 shares in the last quarter. 69.81% of the stock is owned by institutional investors and hedge funds.

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.