Himax Technologies (NASDAQ:HIMX) Trading 8.6% Higher – Time to Buy?

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) shot up 8.6% on Tuesday . The stock traded as high as $9.69 and last traded at $9.62. 1,742,942 shares traded hands 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 upped their price target on 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 Up 7.3 %

The firm’s fifty day moving average is $7.00 and its 200-day moving average is $6.46. The stock has a market capitalization of $1.66 billion, a PE ratio of 21.61 and a beta of 1.94. 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 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $205.93 million. During the same period last year, the firm earned $0.06 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year.

Himax Technologies declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Himax Technologies in the 2nd quarter worth approximately $79,000. Aprio Wealth Management LLC purchased a new stake in Himax Technologies during the third quarter worth $56,000. GAMMA Investing LLC grew its holdings in Himax Technologies by 90.5% in the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 4,888 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Himax Technologies during the 2nd quarter worth $115,000. Finally, Virtu Financial LLC acquired a new position in shares of Himax Technologies during the 3rd quarter worth $98,000. 69.81% of the stock is owned by hedge funds and other institutional investors.

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.