Himax Technologies (NASDAQ:HIMX) Stock Price Up 4.9% – Still a Buy?

Himax Technologies, Inc. (NASDAQ:HIMX) shares were up 4.9% on Tuesday . The stock traded as high as $9.84 and last traded at $9.96. Approximately 579,352 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,755,322 shares. The stock had previously closed at $9.50.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price objective 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 business’s 50-day moving average price is $8.34 and its 200 day moving average price is $6.68. The stock has a market capitalization of $1.69 billion, a PE ratio of 21.94 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64.

Himax Technologies announced that its board has authorized a stock buyback plan on Wednesday, December 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its stake in shares of 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 valued at $4,777,000 after purchasing an additional 288,000 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Himax Technologies during the fourth quarter valued at approximately $164,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Himax Technologies during the third quarter valued at approximately $1,125,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Himax Technologies by 14.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after purchasing an additional 243,178 shares during the period. Finally, GAMMA Investing LLC boosted 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 valued at $83,000 after purchasing an additional 4,888 shares during the period. 69.81% of the stock is currently owned by institutional investors.

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.