Himax Technologies (NASDAQ:HIMX) Shares Gap Down – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $12.85, but opened at $10.40. Himax Technologies shares last traded at $9.23, with a volume of 7,122,316 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird increased their target price 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 Price Performance

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 firm has a market cap of $1.57 billion, a P/E ratio of 20.44 and a beta of 1.94. The business has a 50-day moving average of $7.45 and a two-hundred day moving average of $6.54.

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

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

Institutional Investors Weigh In On Himax Technologies

A number of institutional investors have recently made changes to their positions in HIMX. Point72 Asset Management L.P. increased its position in Himax Technologies by 1,104.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock valued at $4,609,000 after purchasing an additional 532,300 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Himax Technologies by 32.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,665,858 shares of the semiconductor company’s stock worth $9,162,000 after buying an additional 407,400 shares during the period. BNP Paribas Financial Markets lifted its holdings in Himax Technologies by 324.2% in the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after buying an additional 226,386 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Himax Technologies during the third quarter valued at $1,125,000. Finally, Renaissance Technologies LLC raised its position in shares of Himax Technologies by 67.0% in the 2nd quarter. Renaissance Technologies LLC now owns 267,500 shares of the semiconductor company’s stock worth $2,124,000 after acquiring an additional 107,300 shares in the last quarter. Institutional investors own 69.81% of the company’s stock.

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.