Himax Technologies (NASDAQ:HIMX) Trading Up 8.1% – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price was up 8.1% during mid-day trading on Wednesday . The stock traded as high as $11.34 and last traded at $11.63. Approximately 1,493,061 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,968,938 shares. The stock had previously closed at $10.76.

Analysts Set New Price Targets

Several analysts have issued reports on HIMX shares. Robert W. Baird upped their price objective on Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com upgraded Himax Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday.

Himax Technologies Stock Performance

The company has a market cap of $1.86 billion, a P/E ratio of 23.62 and a beta of 2.00. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $6.94.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share for the quarter. The company had revenue of $237.22 million for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%.

Himax Technologies announced that its Board of Directors has initiated a share buyback 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 reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Himax Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its position in Himax Technologies by 2.7% during the fourth quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock worth $35,033,000 after buying an additional 116,088 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Himax Technologies by 346.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock valued at $31,153,000 after purchasing an additional 3,006,311 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Himax Technologies in the 4th quarter valued at $18,431,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Himax Technologies by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after purchasing an additional 243,178 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Himax Technologies by 25.8% in the 4th quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock valued at $7,365,000 after purchasing an additional 187,600 shares in the last quarter. 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.