Himax Technologies (NASDAQ:HIMX) Price Target Raised to $15.00

Himax Technologies (NASDAQ:HIMX) had its target price increased by equities researchers at Robert W. Baird from $7.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price target points to a potential upside of 54.48% from the stock’s current price.

Himax Technologies Price Performance

Shares of Himax Technologies stock opened at $9.71 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 22.07 and a beta of 2.07. 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 stock has a 50 day moving average price of $5.93 and a 200-day moving average price of $6.32. Himax Technologies has a one year low of $4.80 and a one year high of $9.80.

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

Himax Technologies declared that its Board of Directors has approved a share buyback program on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIMX. Summit Securities Group LLC boosted its holdings 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 acquiring an additional 4,200 shares during the period. Blue Trust Inc. boosted its holdings in Himax Technologies by 77,712.5% during the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 6,217 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Himax Technologies during the 2nd quarter valued at $79,000. Aprio Wealth Management LLC purchased a new position in Himax Technologies during the 3rd quarter valued at $56,000. Finally, Sanctuary Advisors LLC purchased a new position in Himax Technologies during the 2nd quarter valued at $115,000. 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.