Himax Technologies (NASDAQ:HIMX) Trading Up 4.4% – Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shares traded up 4.4% on Monday . The company traded as high as $5.93 and last traded at $5.91. 213,191 shares changed hands during trading, a decline of 73% from the average session volume of 788,598 shares. The stock had previously closed at $5.66.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Himax Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Himax Technologies Price Performance

The firm has a 50-day simple moving average of $5.67 and a 200-day simple moving average of $6.19. The firm has a market capitalization of $1.05 billion, a PE ratio of 22.30 and a beta of 2.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.32.

Himax Technologies (NASDAQ:HIMX) last posted its quarterly earnings data on Friday, August 9th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Himax Technologies had a net margin of 8.42% and a return on equity of 8.94%. The company had revenue of $239.60 million for the quarter, compared to the consensus estimate of $232.78 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year.

Institutional Investors Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC grew its holdings in Himax Technologies by 5.6% during the first quarter. Lazard Asset Management LLC now owns 4,592,705 shares of the semiconductor company’s stock valued at $24,570,000 after purchasing an additional 244,621 shares during the period. Acadian Asset Management LLC increased 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 worth $26,728,000 after acquiring an additional 800,684 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Himax Technologies during the 1st quarter worth approximately $5,182,000. Polunin Capital Partners Ltd bought a new position in shares of Himax Technologies in the second quarter worth approximately $6,358,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Himax Technologies in the second quarter worth $5,817,000. 69.81% of the stock is currently 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.