Himax Technologies (NASDAQ:HIMX) Raised to Buy at StockNews.com

Himax Technologies (NASDAQ:HIMX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Robert W. Baird increased 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.

Himax Technologies Stock Performance

HIMX stock traded up $0.62 during trading hours on Wednesday, hitting $11.38. 5,925,293 shares of the stock were exchanged, compared to its average volume of 5,117,112. The company has a current ratio of 1.65, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.99 billion, a P/E ratio of 25.29 and a beta of 2.00. The company has a 50-day simple moving average of $8.98 and a two-hundred day simple moving average of $6.88. Himax Technologies has a 12 month low of $4.80 and a 12 month high of $13.91.

Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $237.22 million for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%.

Himax Technologies announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Himax Technologies

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in Himax Technologies in the fourth quarter valued at about $28,000. Barclays PLC boosted its stake in Himax Technologies by 38.8% in the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,187 shares in the last quarter. 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. Waverly Advisors LLC acquired a new stake in Himax Technologies in the fourth quarter valued at about $83,000. Finally, Foster Group Inc. acquired a new stake in Himax Technologies in the fourth quarter valued at 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.