Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.44, but opened at $5.65. Himax Technologies shares last traded at $5.87, with a volume of 540,096 shares.

Himax Technologies Stock Performance

The company’s fifty day moving average is $5.75 and its 200 day moving average is $6.29. The company has a market capitalization of $1.08 billion, a P/E ratio of 14.05 and a beta of 2.07. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new position in Himax Technologies in the 2nd quarter worth approximately $5,817,000. Polunin Capital Partners Ltd bought a new position in Himax Technologies in the 2nd quarter valued at $6,358,000. Robeco Institutional Asset Management B.V. boosted its holdings in 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. Acadian Asset Management LLC boosted its holdings 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 valued at $26,728,000 after purchasing an additional 800,684 shares during the period. Finally, Point72 Asset Management L.P. raised its position 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 valued at $4,609,000 after buying an additional 532,300 shares in the last quarter. 69.81% of the stock is owned by 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.