Himax Technologies (NASDAQ:HIMX) Sees Strong Trading Volume – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX) shares saw unusually-strong trading volume on Thursday . Approximately 2,635,045 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 2,715,728 shares.The stock last traded at $11.69 and had previously closed at $9.92.

Analysts Set New Price Targets

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

Himax Technologies Stock Performance

The stock has a market capitalization of $2.25 billion, a P/E ratio of 29.21 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. The stock has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $6.56.

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

Himax Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. Aprio Wealth Management LLC bought a new stake in Himax Technologies during the third quarter worth $56,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Himax Technologies during the 2nd quarter worth $79,000. GAMMA Investing LLC boosted its stake 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 buying an additional 4,888 shares in the last quarter. Virtu Financial LLC bought a new position in Himax Technologies in the third quarter valued at about $98,000. Finally, Foster Group Inc. acquired a new position in Himax Technologies during the fourth quarter worth about $100,000. 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.