Himax Technologies (NASDAQ:HIMX) Sees Unusually-High Trading Volume – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX) saw an uptick in trading volume on Wednesday . 621,900 shares traded hands during trading, a decline of 33% from the previous session’s volume of 924,737 shares.The stock last traded at $8.20 and had previously closed at $7.73.

Wall Street Analyst Weigh In

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

Himax Technologies Trading Down 0.9 %

The company has a fifty day moving average of $6.14 and a 200-day moving average of $6.37. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 17.20 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 issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $205.93 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has authorized a share buyback program on Wednesday, December 4th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in shares of Himax Technologies by 31.2% during the 2nd quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock worth $26,728,000 after acquiring an additional 800,684 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Himax Technologies by 32.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after purchasing an additional 407,400 shares during the period. Point72 Asset Management L.P. boosted its holdings in Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after purchasing an additional 288,000 shares during the last quarter. Polunin Capital Partners Ltd purchased a new stake in shares of Himax Technologies in the 2nd quarter valued at approximately $6,358,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies during the 2nd quarter worth approximately $5,817,000. Institutional investors and hedge funds 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.