Himax Technologies (NASDAQ:HIMX) Sees Unusually-High Trading Volume – Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shares saw unusually-high trading volume on Wednesday . Approximately 621,900 shares were traded during trading, a decline of 33% from the previous session’s volume of 924,737 shares.The stock last traded at $8.20 and had previously closed at $7.73.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their price objective on Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 13th.

Himax Technologies Stock Up 2.5 %

The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $6.07 and its 200 day moving average price is $6.36. The company has a market capitalization of $1.38 billion, a P/E ratio of 18.00 and a beta of 2.07.

Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share.

Himax Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in shares of 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 purchasing an additional 800,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Himax Technologies by 32.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock valued at $9,162,000 after buying an additional 407,400 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Himax Technologies by 49.6% during the third quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock worth $4,777,000 after buying an additional 288,000 shares during the last quarter. Polunin Capital Partners Ltd acquired a new stake in shares of Himax Technologies during the second quarter worth approximately $6,358,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Himax Technologies in the second quarter valued at approximately $5,817,000. 69.81% of the stock is currently owned by institutional investors and hedge funds.

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.