Himax Technologies (NASDAQ:HIMX – Get Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Separately, Robert W. Baird raised their price objective on Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.
Check Out Our Latest Stock Analysis on HIMX
Himax Technologies Trading Up 5.8 %
Himax Technologies (NASDAQ:HIMX – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 EPS for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The firm had revenue of $237.22 million for the quarter.
Himax Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Himax Technologies
A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its holdings in Himax Technologies by 6.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 217,927 shares of the semiconductor company’s stock worth $1,752,000 after purchasing an additional 13,357 shares in the last quarter. Waverly Advisors LLC bought a new stake in Himax Technologies in the fourth quarter worth approximately $83,000. Vident Advisory LLC increased its holdings in Himax Technologies by 24.5% in the fourth quarter. Vident Advisory LLC now owns 112,818 shares of the semiconductor company’s stock worth $907,000 after purchasing an additional 22,229 shares in the last quarter. Soviero Asset Management LP bought a new stake in Himax Technologies in the fourth quarter worth approximately $4,020,000. Finally, Two Sigma Advisers LP increased its holdings in Himax Technologies by 25.8% in the fourth quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock worth $7,365,000 after purchasing an additional 187,600 shares in the last quarter. 69.81% of the stock is currently owned by 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.
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