Himax Technologies (NASDAQ:HIMX) Price Target Raised to $15.00

Himax Technologies (NASDAQ:HIMX) had its price target hoisted by Robert W. Baird from $7.00 to $15.00 in a report released on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor company’s stock.

Himax Technologies Stock Down 11.5 %

HIMX opened at $8.59 on Friday. Himax Technologies has a one year low of $4.80 and a one year high of $9.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The firm has a market capitalization of $1.50 billion, a P/E ratio of 19.51 and a beta of 2.07. The company has a fifty day moving average price of $5.99 and a 200-day moving average price of $6.34.

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

Himax Technologies announced that its board has authorized a stock repurchase program on Wednesday, December 4th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Polunin Capital Partners Ltd bought a new position in shares of Himax Technologies in the second quarter worth approximately $6,358,000. Acadian Asset Management LLC raised its position in Himax Technologies by 31.2% during the 2nd quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock valued at $26,728,000 after purchasing an additional 800,684 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Himax Technologies during the 2nd quarter valued at approximately $5,817,000. Point72 Asset Management L.P. lifted its holdings in Himax Technologies by 1,104.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 580,500 shares of the semiconductor company’s stock worth $4,609,000 after buying an additional 532,300 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings 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 acquiring an additional 407,400 shares in the last quarter. 69.81% of the stock is currently 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.