Himax Technologies (NASDAQ:HIMX) Trading Up 5.1% – Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shot up 5.1% during trading on Thursday . The company traded as high as $8.85 and last traded at $9.00. 294,154 shares were traded during trading, a decline of 82% from the average session volume of 1,667,957 shares. The stock had previously closed at $8.56.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird lifted their price objective on 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 Performance

The company’s fifty day moving average price is $9.57 and its two-hundred day moving average price is $7.40. The firm has a market capitalization of $1.52 billion, a PE ratio of 19.41 and a beta of 2.13. 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 earnings per share (EPS) for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The business had revenue of $237.22 million during the quarter.

Himax Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HIMX. SBI Securities Co. Ltd. acquired a new stake in shares of Himax Technologies in the fourth quarter valued at about $28,000. Barclays PLC boosted its holdings in Himax Technologies by 38.8% in the 4th quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,187 shares during the period. GAMMA Investing LLC grew its position 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 acquiring an additional 4,888 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Himax Technologies during the fourth quarter valued at approximately $83,000. Finally, Virtu Financial LLC purchased a new stake in shares of Himax Technologies during the third quarter valued at approximately $98,000. 69.81% of the stock is owned by hedge funds and other institutional investors.

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.