Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Still a Buy?

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) gapped up before the market opened on Wednesday . The stock had previously closed at $7.20, but opened at $7.74. Himax Technologies shares last traded at $8.32, with a volume of 928,333 shares traded.

Wall Street Analyst Weigh In

Separately, 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 note on Friday, December 13th.

Himax Technologies Stock Performance

The stock has a market capitalization of $1.47 billion, a PE ratio of 19.11 and a beta of 1.94. The stock has a fifty day moving average of $6.77 and a 200-day moving average of $6.43. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03.

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

Himax Technologies declared that its Board of Directors has initiated 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 buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Aprio Wealth Management LLC acquired a new position in Himax Technologies in the 3rd quarter valued at about $56,000. Susquehanna Fundamental Investments LLC acquired a new position in Himax Technologies during the 2nd quarter worth approximately $79,000. GAMMA Investing LLC increased its position in Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the period. Virtu Financial LLC acquired a new position in Himax Technologies during the 3rd quarter worth approximately $98,000. Finally, Sanctuary Advisors LLC boosted 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 acquiring an additional 4,915 shares in the last quarter. Institutional investors and hedge funds 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.