Himax Technologies (NASDAQ:HIMX) Shares Gap Up – Here’s Why

Himax Technologies, Inc. (NASDAQ:HIMX) gapped up before the market opened on Thursday . The stock had previously closed at $9.14, but opened at $10.01. Himax Technologies shares last traded at $10.16, with a volume of 3,350,574 shares trading hands.

Wall Street Analyst Weigh In

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

Himax Technologies Stock Up 7.5 %

The business has a 50 day moving average of $8.57 and a two-hundred day moving average of $6.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The stock has a market capitalization of $1.72 billion, a PE ratio of 22.45 and a beta of 2.00.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.14 EPS for the quarter. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%.

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

Institutional Trading of Himax Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Himax Technologies during the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its stake in shares of Himax Technologies by 90.5% during the fourth quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 4,888 shares during the last quarter. Foster Group Inc. acquired a new position in shares of Himax Technologies during the fourth quarter valued at about $100,000. Raymond James Financial Inc. purchased a new position in shares of Himax Technologies in the 4th quarter valued at approximately $106,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Himax Technologies in the 4th quarter worth approximately $107,000. Hedge funds and other institutional investors 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.