Himax Technologies (NASDAQ:HIMX) Sees Large Volume Increase – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) saw unusually-high trading volume on Wednesday . Approximately 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 Analysts Forecast Growth

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

Himax Technologies Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.32 billion, a PE ratio of 17.20 and a beta of 2.07. The stock has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $6.37.

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, beating analysts’ consensus estimates of $0.04 by $0.03. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The business had revenue of $222.40 million for the quarter, compared to analyst estimates of $205.93 million. During the same quarter in the prior year, the business posted $0.06 EPS. Himax Technologies’s revenue for the quarter was down 6.8% compared to the same quarter last year.

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

Institutional Investors Weigh In On Himax Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Polunin Capital Partners Ltd purchased a new position in shares of Himax Technologies during the 2nd quarter valued at approximately $6,358,000. Acadian Asset Management LLC increased its holdings in Himax Technologies by 31.2% in the second quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock valued at $26,728,000 after buying an additional 800,684 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Himax Technologies in the second quarter worth about $5,817,000. Point72 Asset Management L.P. boosted its stake in shares of 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 worth $4,609,000 after acquiring an additional 532,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of 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 acquiring an additional 407,400 shares during the period. 69.81% of the stock is owned by hedge funds and other institutional investors.

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.