Himax Technologies (NASDAQ:HIMX) Shares Down 5.2% – Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX)’s share price was down 5.2% during trading on Thursday . The stock traded as low as $7.61 and last traded at $7.62. Approximately 312,124 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,834,854 shares. The stock had previously closed at $8.04.

Analyst Ratings Changes

Separately, Robert W. Baird increased their target price on 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 Trading Down 4.9 %

The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $6.45 and its 200-day moving average is $6.46. The stock has a market capitalization of $1.34 billion, a PE ratio of 17.39 and a beta of 2.07.

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 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 business had revenue of $222.40 million during the quarter, compared to the consensus estimate of $205.93 million. During the same period in the prior year, the firm posted $0.06 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIMX. Aprio Wealth Management LLC purchased a new stake in shares of Himax Technologies in the third quarter worth about $56,000. Susquehanna Fundamental Investments LLC acquired a new position in Himax Technologies during the 2nd quarter worth approximately $79,000. Virtu Financial LLC purchased a new position in Himax Technologies in the 3rd quarter worth approximately $98,000. Sanctuary Advisors LLC grew its position in Himax Technologies by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 4,915 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Himax Technologies by 1,239.6% during the third quarter. US Bancorp DE now owns 24,032 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 22,238 shares during the period. Hedge funds and other institutional investors 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.