Himax Technologies (NASDAQ:HIMX) Shares Down 9.8% – Should You Sell?

Shares of Himax Technologies, Inc. (NASDAQ:HIMX) traded down 9.8% on Monday . The company traded as low as $8.86 and last traded at $8.79. 430,554 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,613,039 shares. The stock had previously closed at $9.75.

Wall Street Analysts Forecast Growth

HIMX has been the subject of a number of recent analyst reports. StockNews.com downgraded Himax Technologies from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird upped their price objective on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Himax Technologies Stock Performance

The company has a 50-day simple moving average of $9.43 and a two-hundred day simple moving average of $7.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65. The firm has a market capitalization of $1.49 billion, a P/E ratio of 19.06 and a beta of 2.13.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share for the quarter. The company had revenue of $237.22 million for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%.

Himax Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Himax Technologies in the fourth quarter worth $28,000. Barclays PLC lifted its stake in Himax Technologies by 38.8% during the 4th quarter. Barclays PLC now owns 4,248 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,187 shares during the period. GAMMA Investing LLC lifted its stake in Himax Technologies by 90.5% during the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 4,888 shares during the period. Waverly Advisors LLC bought a new position in shares of Himax Technologies during the 4th quarter valued at $83,000. Finally, Virtu Financial LLC purchased a new position in Himax Technologies in the third quarter worth about $98,000. 69.81% of the stock is owned by 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.