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

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) saw unusually-strong trading volume on Thursday . Approximately 718,932 shares traded hands during mid-day trading, a decline of 60% from the previous session’s volume of 1,779,911 shares.The stock last traded at $8.80 and had previously closed at $8.26.

Analysts Set New Price Targets

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

Himax Technologies Stock Up 0.9 %

The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.55 billion, a P/E ratio of 20.11 and a beta of 1.94. The company’s 50 day moving average price is $6.93 and its two-hundred day moving average price is $6.47.

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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC raised its holdings in Himax Technologies by 2.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 169,330 shares of the semiconductor company’s stock valued at $1,361,000 after buying an additional 3,900 shares during the period. Ballentine Partners LLC raised its stake in shares of Himax Technologies by 47.6% in the fourth quarter. Ballentine Partners LLC now owns 38,510 shares of the semiconductor company’s stock valued at $310,000 after acquiring an additional 12,418 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Himax Technologies by 90.5% in the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 4,888 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Himax Technologies by 33.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 4,915 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Himax Technologies during the third quarter valued at approximately $98,000. 69.81% of the stock is currently owned by institutional investors.

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.