Himax Technologies (NASDAQ:HIMX) Trading 7.6% Higher – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price was up 7.6% on Friday . The company traded as high as $6.67 and last traded at $6.65. Approximately 313,771 shares traded hands during trading, a decline of 60% from the average daily volume of 790,621 shares. The stock had previously closed at $6.18.

Himax Technologies Stock Up 9.2 %

The company has a market capitalization of $1.18 billion, a PE ratio of 15.11 and a beta of 2.07. The company’s 50 day moving average is $5.75 and its two-hundred day moving average is $6.29. 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 released its earnings results 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 business had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share.

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

Institutional Investors Weigh In On Himax Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC increased its stake in Himax Technologies by 1,400.0% during the 2nd quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 4,200 shares in the last quarter. Blue Trust Inc. grew its position in Himax Technologies by 77,712.5% during the second 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 during the period. Susquehanna Fundamental Investments LLC purchased a new position in Himax Technologies in the second quarter valued at $79,000. Aprio Wealth Management LLC acquired a new position in shares of Himax Technologies in the third quarter worth about $56,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Himax Technologies during the 2nd quarter worth about $115,000. 69.81% of the stock is currently owned by hedge funds and other institutional investors.

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.