Himax Technologies (NASDAQ:HIMX) Sees Strong Trading Volume – Still a Buy?

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) saw unusually-strong trading volume on Thursday . Approximately 2,635,045 shares changed hands during trading, a decline of 3% from the previous session’s volume of 2,715,728 shares.The stock last traded at $11.69 and had previously closed at $9.92.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their target price 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 Up 8.9 %

The stock’s fifty day simple moving average is $7.45 and its two-hundred day simple moving average is $6.56. The stock has a market capitalization of $2.25 billion, a P/E ratio of 29.21 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64.

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

Himax Technologies announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HIMX. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Himax Technologies by 14.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock worth $15,349,000 after buying an additional 243,178 shares in the last quarter. Foster Group Inc. bought a new position in Himax Technologies during the fourth quarter worth $100,000. Blue Trust Inc. grew its holdings in Himax Technologies by 58.2% in the fourth quarter. Blue Trust Inc. now owns 47,016 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 17,291 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Himax Technologies in the fourth quarter valued at $164,000. Finally, Clear Harbor Asset Management LLC boosted its position in shares of 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 worth $1,361,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors own 69.81% of the company’s stock.

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.