Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Here’s What Happened

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) gapped up before the market opened on Wednesday . The stock had previously closed at $5.23, but opened at $5.46. Himax Technologies shares last traded at $5.46, with a volume of 317 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Himax Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Himax Technologies Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The company has a market cap of $898.06 million, a P/E ratio of 11.68 and a beta of 2.10. The company has a fifty day simple moving average of $5.72 and a 200-day simple moving average of $6.32.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share 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 analysts’ expectations of $205.93 million. During the same quarter last year, the business posted $0.06 EPS. Himax Technologies’s revenue was down 6.8% on a year-over-year basis.

Hedge Funds Weigh In On Himax Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Polunin Capital Partners Ltd purchased a new stake in shares of Himax Technologies in the second quarter valued at $6,358,000. Acadian Asset Management LLC lifted its stake in Himax Technologies by 31.2% in 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Himax Technologies during the 2nd quarter worth about $5,817,000. Point72 Asset Management L.P. grew its stake 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 acquiring an additional 532,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Himax Technologies by 32.4% in 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 purchasing an additional 407,400 shares during the period. Institutional investors and hedge funds own 69.81% of the company’s stock.

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.