Himax Technologies (NASDAQ:HIMX) Trading Down 9.8% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) traded down 9.8% during trading on Monday . The stock traded as low as $8.86 and last traded at $8.79. 430,554 shares traded hands during trading, a decline of 73% from the average session volume of 1,613,039 shares. The stock had previously closed at $9.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HIMX shares. StockNews.com downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird increased their price objective 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 Trading Down 12.3 %

The stock has a market cap of $1.49 billion, a P/E ratio of 19.06 and a beta of 2.13. The firm’s fifty day moving average price is $9.43 and its two-hundred day moving average price is $7.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.43.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share for the quarter. The business 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 declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Himax Technologies

A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in shares of Himax Technologies by 346.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock worth $31,153,000 after acquiring an additional 3,006,311 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Himax Technologies during the fourth quarter valued at about $18,431,000. Soviero Asset Management LP purchased a new position in shares of Himax Technologies in the fourth quarter worth about $4,020,000. Robeco Institutional Asset Management B.V. lifted its position in Himax Technologies by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after purchasing an additional 243,178 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after buying an additional 226,386 shares during the last quarter. Institutional investors own 69.81% of the company’s stock.

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.