Himax Technologies (NASDAQ:HIMX) Rating Lowered to Hold at StockNews.com

Himax Technologies (NASDAQ:HIMX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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

Himax Technologies stock opened at $9.75 on Friday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 21.67 and a beta of 2.13. Himax Technologies has a 52-week low of $4.80 and a 52-week high of $13.91. The stock’s 50 day moving average price is $9.43 and its two-hundred day moving average price is $7.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65.

Himax Technologies (NASDAQ:HIMX) last issued its earnings results on Thursday, February 13th. The semiconductor company reported $0.14 earnings per share for the quarter. Himax Technologies had a return on equity of 9.09% and a net margin of 8.80%. The company had revenue of $237.22 million for the quarter.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in 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 worth $4,777,000 after purchasing an additional 288,000 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Himax Technologies in the 4th quarter worth about $164,000. Public Employees Retirement System of Ohio bought a new position in Himax Technologies in the 3rd quarter worth about $1,125,000. Robeco Institutional Asset Management B.V. boosted its stake in Himax Technologies by 14.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock worth $15,349,000 after purchasing an additional 243,178 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Himax Technologies by 90.5% in the 4th quarter. GAMMA Investing LLC now owns 10,290 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,888 shares during the period. 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.