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

Himax Technologies, Inc. (NASDAQ:HIMX) saw strong trading volume on Thursday . 718,932 shares traded hands during trading, a decline of 60% from the previous session’s volume of 1,779,911 shares.The stock last traded at $8.80 and had previously closed at $8.26.

Analyst Upgrades and Downgrades

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

Himax Technologies Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The company has a market cap of $1.53 billion, a PE ratio of 19.94 and a beta of 1.94. The company’s 50-day simple moving average is $6.81 and its 200 day simple moving average is $6.44.

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

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

Institutional Investors Weigh In On Himax Technologies

Institutional investors have recently modified their holdings of the company. Aprio Wealth Management LLC purchased a new stake in shares of Himax Technologies during the 3rd quarter worth $56,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Himax Technologies during the 2nd quarter worth $79,000. GAMMA Investing LLC lifted its position in shares of Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Himax Technologies during the 3rd quarter worth $98,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Himax Technologies by 33.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 4,915 shares during the last quarter. 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.