Himax Technologies (NASDAQ:HIMX) Shares Down 4.9% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price fell 4.9% during trading on Monday . The company traded as low as $7.99 and last traded at $8.17. 1,925,887 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 915,082 shares. The stock had previously closed at $8.59.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 13th.

Himax Technologies Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The stock has a market cap of $1.33 billion, a PE ratio of 17.36 and a beta of 2.07. The firm has a fifty day moving average price of $6.07 and a 200 day moving average price of $6.36.

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

Himax Technologies declared that its Board of Directors has initiated 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 reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Himax Technologies

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC raised its holdings in Himax Technologies by 1,400.0% in the 2nd quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 4,200 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Himax Technologies by 33.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock worth $102,000 after buying an additional 4,915 shares during the period. Blue Trust Inc. lifted its position in shares of Himax Technologies by 77,712.5% during the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 6,217 shares in the last quarter. SG Americas Securities LLC grew its stake in Himax Technologies by 28.4% in the 2nd quarter. SG Americas Securities LLC now owns 31,728 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 7,013 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Himax Technologies in the 2nd quarter worth $79,000. Hedge funds and other 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.