Himax Technologies (NASDAQ:HIMX) Shares Down 5.2% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price traded down 5.2% on Thursday . The company traded as low as $7.61 and last traded at $7.62. 312,124 shares changed hands during trading, a decline of 83% from the average session volume of 1,834,854 shares. The stock had previously closed at $8.04.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price objective on shares of 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 Down 4.9 %

The firm has a 50 day moving average of $6.45 and a two-hundred day moving average of $6.46. The stock has a market capitalization of $1.34 billion, a PE ratio of 17.39 and a beta of 2.07. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $205.93 million. During the same quarter last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis.

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

Institutional Investors Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its position in shares of Himax Technologies by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 4,915 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Himax Technologies during the 3rd quarter worth about $98,000. Public Employees Retirement System of Ohio acquired a new position in shares of Himax Technologies in the third quarter valued at approximately $1,125,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Himax Technologies during the third quarter valued at approximately $182,000. Finally, Stifel Financial Corp boosted its position in Himax Technologies by 4.8% during the third quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after acquiring an additional 21,607 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.

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.