Himax Technologies (NASDAQ:HIMX) Sees Large Volume Increase – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) shares saw strong trading volume on Thursday . 718,932 shares traded hands during trading, a decline of 60% from the previous session’s volume of 1,779,911 shares.The stock last traded at $8.80 and had previously closed at $8.26.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their target price on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a research note 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 firm’s 50 day simple moving average is $6.81 and its 200-day simple moving average is $6.44. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 19.94 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $205.93 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year.

Himax Technologies declared that its board has approved a share 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 reacquire up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign 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 made changes to their positions in the stock. Point72 Asset Management L.P. boosted its position in shares of Himax Technologies by 49.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock worth $4,777,000 after purchasing an additional 288,000 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Himax Technologies during the 3rd quarter worth approximately $1,125,000. Point72 Hong Kong Ltd purchased a new position in shares of Himax Technologies during the 2nd quarter worth approximately $5,817,000. BNP Paribas Financial Markets boosted its position in shares of Himax Technologies by 324.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock worth $1,629,000 after purchasing an additional 226,386 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Himax Technologies by 4.8% during the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 21,607 shares during the period. 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.