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

Himax Technologies (NASDAQ:HIMX) had its price target increased by stock analysts at Robert W. Baird from $7.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s target price indicates a potential upside of 54.48% from the stock’s previous close.

Himax Technologies Stock Up 44.9 %

NASDAQ HIMX opened at $9.71 on Friday. The stock’s 50-day moving average price is $5.93 and its 200-day moving average price is $6.32. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. Himax Technologies has a 52 week low of $4.80 and a 52 week high of $9.80. The company has a market capitalization of $1.70 billion, a P/E ratio of 22.07 and a beta of 2.07.

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

Himax Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Himax Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMX. Polunin Capital Partners Ltd bought a new stake in Himax Technologies during the 2nd quarter valued at approximately $6,358,000. Acadian Asset Management LLC raised its stake in 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 valued at $26,728,000 after purchasing an additional 800,684 shares during the period. Point72 Hong Kong Ltd bought a new stake in Himax Technologies during the 2nd quarter valued at approximately $5,817,000. Point72 Asset Management L.P. grew its holdings in Himax Technologies by 1,104.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock valued at $4,609,000 after buying an additional 532,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Himax Technologies by 32.4% during 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 buying an additional 407,400 shares in the last quarter. 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.