Redwood Wealth Management Group LLC Reduces Stock Position in Himax Technologies, Inc. (NASDAQ:HIMX)

Redwood Wealth Management Group LLC lessened its stake in shares of Himax Technologies, Inc. (NASDAQ:HIMXFree Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,060 shares of the semiconductor company’s stock after selling 3,517 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Himax Technologies were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIMX. Aprio Wealth Management LLC purchased a new stake in Himax Technologies in the 3rd quarter valued at about $56,000. GAMMA Investing LLC grew its holdings in Himax Technologies by 90.5% in the 4th 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 during the period. Virtu Financial LLC purchased a new stake in Himax Technologies in the 3rd quarter valued at about $98,000. Foster Group Inc. purchased a new stake in Himax Technologies in the 4th quarter valued at about $100,000. Finally, Sanctuary Advisors LLC grew its holdings 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. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Himax Technologies Stock Up 10.6 %

Shares of NASDAQ:HIMX opened at $10.30 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. Himax Technologies, Inc. has a 1 year low of $4.80 and a 1 year high of $13.91. The stock has a market capitalization of $1.80 billion, a P/E ratio of 23.41 and a beta of 2.00. The stock has a 50-day simple moving average of $8.07 and a 200-day simple moving average of $6.63.

Himax Technologies (NASDAQ:HIMXGet Free Report) last issued its earnings results 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 business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $205.93 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’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 permits the company to buyback $20.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on HIMX

Himax Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Himax Technologies (NASDAQ:HIMX)

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