Clear Harbor Asset Management LLC Boosts Position in Himax Technologies, Inc. (NASDAQ:HIMX)

Clear Harbor Asset Management LLC lifted its position in Himax Technologies, Inc. (NASDAQ:HIMX) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 169,330 shares of the semiconductor company’s stock after buying an additional 3,900 shares during the period. Clear Harbor Asset Management LLC’s holdings in Himax Technologies were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in Himax Technologies by 32.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock valued at $9,162,000 after purchasing an additional 407,400 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Himax Technologies by 49.6% in the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after acquiring an additional 288,000 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Himax Technologies in the second quarter worth approximately $5,817,000. Stifel Financial Corp increased its stake 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. Finally, BNP Paribas Financial Markets raised its position in Himax Technologies by 324.2% in the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after purchasing an additional 226,386 shares during the period. 69.81% of the stock is currently owned by institutional investors and hedge funds.

Himax Technologies Price Performance

Himax Technologies stock opened at $8.85 on Tuesday. Himax Technologies, Inc. has a 1 year low of $4.80 and a 1 year high of $9.80. 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 company’s 50 day simple moving average is $7.00 and its 200-day simple moving average is $6.46. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 20.11 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings data 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 period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

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

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.