Himax Technologies (NASDAQ:HIMX) Stock Price Down 5.6% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price fell 5.6% on Wednesday . The stock traded as low as $8.84 and last traded at $8.93. 629,907 shares traded hands during trading, a decline of 85% from the average session volume of 4,214,694 shares. The stock had previously closed at $9.46.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIMX. Robert W. Baird boosted their price target on Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered Himax Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

Himax Technologies Price Performance

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 19.28 and a beta of 2.13. The company has a 50-day simple moving average of $9.56 and a two-hundred day simple moving average of $7.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65.

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

Himax Technologies declared that its Board of Directors has approved a stock buyback program on Wednesday, December 4th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC boosted its stake in Himax Technologies by 2.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock valued at $35,033,000 after purchasing an additional 116,088 shares during the period. Point72 Asset Management L.P. boosted its stake in 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 valued at $31,153,000 after purchasing an additional 3,006,311 shares during the period. Point72 Hong Kong Ltd bought a new stake in Himax Technologies in the 4th quarter valued at $18,431,000. Robeco Institutional Asset Management B.V. boosted its stake in Himax Technologies by 14.6% in the 4th 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 period. Finally, Two Sigma Advisers LP boosted its stake in Himax Technologies by 25.8% in the 4th quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock valued at $7,365,000 after purchasing an additional 187,600 shares during the period. 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.