Himax Technologies (NASDAQ:HIMX) Reaches New 12-Month High – Here’s What Happened

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.57 and last traded at $10.61, with a volume of 955483 shares traded. The stock had previously closed at $9.56.

Analyst Ratings Changes

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

Himax Technologies Price Performance

The stock’s 50-day simple moving average is $7.00 and its two-hundred day simple moving average is $6.46. 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 firm has a market cap of $1.78 billion, a P/E ratio of 23.19 and a beta of 1.94.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping 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 firm had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $205.93 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis.

Himax Technologies announced that its board has approved a stock buyback plan on Wednesday, December 4th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its stake 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 worth $9,162,000 after purchasing an additional 407,400 shares during the period. Point72 Asset Management L.P. grew its stake in Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock valued at $4,777,000 after acquiring an additional 288,000 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Himax Technologies in the 2nd quarter valued at $5,817,000. Stifel Financial Corp grew its stake in Himax Technologies by 4.8% in the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock valued at $2,588,000 after acquiring an additional 21,607 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Himax Technologies by 324.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after purchasing an additional 226,386 shares in the last quarter. 69.81% of the stock is owned by hedge funds and other institutional investors.

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.