Himax Technologies (NASDAQ:HIMX) Shares Down 5.6% – What’s Next?

Himax Technologies, Inc. (NASDAQ:HIMX) fell 5.6% on Wednesday . The stock traded as low as $8.84 and last traded at $8.93. 629,907 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 4,214,694 shares. The stock had previously closed at $9.46.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HIMX. StockNews.com cut Himax Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird boosted their price target on Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Himax Technologies Price Performance

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 company has a market cap of $1.52 billion, a price-to-earnings ratio of 19.28 and a beta of 2.13. The business has a fifty day moving average price of $9.56 and a 200 day moving average price of $7.39.

Himax Technologies (NASDAQ:HIMX) last posted 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 company had revenue of $237.22 million during the quarter.

Himax Technologies declared that its Board of Directors has initiated a share 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 reacquire up to 1.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of HIMX. LMR Partners LLP acquired a new position in Himax Technologies in the 3rd quarter worth about $153,000. BNP Paribas Financial Markets increased 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 worth $1,629,000 after purchasing an additional 226,386 shares in the last quarter. Point72 Asset Management L.P. increased its holdings 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 worth $4,777,000 after purchasing an additional 288,000 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new position in Himax Technologies in the 3rd quarter worth about $236,000. Finally, Stifel Financial Corp increased its holdings in Himax Technologies by 4.8% in the 3rd quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 21,607 shares in the last quarter. Institutional investors and hedge funds 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.