Himax Technologies, Inc. (NASDAQ:HIMX) Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC cut its holdings in Himax Technologies, Inc. (NASDAQ:HIMX) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 54,380 shares of the semiconductor company’s stock after selling 2,766 shares during the period. Gagnon Securities LLC’s holdings in Himax Technologies were worth $437,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HIMX. Robeco Institutional Asset Management B.V. increased its stake in Himax Technologies by 32.4% in the third 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 period. Point72 Asset Management L.P. increased its stake in shares of Himax Technologies by 49.6% during the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock worth $4,777,000 after acquiring an additional 288,000 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Himax Technologies by 324.2% during the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock worth $1,629,000 after acquiring an additional 226,386 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Himax Technologies during the third quarter worth about $1,125,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of Himax Technologies during the third quarter worth about $236,000. 69.81% of the stock is currently owned by institutional investors and hedge funds.

Himax Technologies Trading Up 4.2 %

Shares of HIMX opened at $10.12 on Friday. 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’s 50-day moving average is $7.89 and its two-hundred day moving average is $6.61. Himax Technologies, Inc. has a twelve month low of $4.80 and a twelve month high of $13.91. The firm has a market capitalization of $1.77 billion, a P/E ratio of 23.00 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last issued 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. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The company had revenue of $222.40 million for the quarter, compared to analyst estimates of $205.93 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year.

Himax Technologies declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

Himax Technologies 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.