Himax Technologies (NASDAQ:HIMX) Shares Up 6% – Should You Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) traded up 6% during trading on Friday . The company traded as high as $10.24 and last traded at $10.30. 1,937,273 shares were traded during trading, a decline of 62% from the average session volume of 5,045,391 shares. The stock had previously closed at $9.71.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their target price on Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

Himax Technologies Stock Performance

The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.76 billion, a PE ratio of 23.01 and a beta of 1.94. The firm’s fifty day moving average price is $7.71 and its 200 day moving average price is $6.58.

Himax Technologies (NASDAQ:HIMX) last issued its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS 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 firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year.

Himax Technologies announced that its board has initiated a share buyback plan on Wednesday, December 4th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Himax Technologies

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Himax Technologies by 19.7% in the fourth quarter. Rhumbline Advisers now owns 47,516 shares of the semiconductor company’s stock worth $382,000 after buying an additional 7,815 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Himax Technologies by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock worth $15,349,000 after buying an additional 243,178 shares during the last quarter. Foster Group Inc. bought a new stake in shares of Himax Technologies during the 4th quarter worth $100,000. Blue Trust Inc. grew its stake in Himax Technologies by 58.2% in the 4th quarter. Blue Trust Inc. now owns 47,016 shares of the semiconductor company’s stock valued at $378,000 after buying an additional 17,291 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Himax Technologies in the 4th quarter worth $164,000. 69.81% of the stock is owned by 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.