Himax Technologies (NASDAQ:HIMX) Stock Rating Upgraded by StockNews.com

Himax Technologies (NASDAQ:HIMX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

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 research report on Friday, December 13th.

Himax Technologies Stock Down 1.4 %

Shares of NASDAQ:HIMX opened at $11.23 on Wednesday. The firm has a market cap of $1.96 billion, a P/E ratio of 24.94 and a beta of 2.00. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. Himax Technologies has a 12-month low of $4.80 and a 12-month high of $13.91. The business has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $6.91.

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

Himax Technologies declared that its board has authorized a stock buyback program on Wednesday, December 4th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC raised its position in shares of Himax Technologies by 2.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock worth $35,033,000 after acquiring an additional 116,088 shares in the last quarter. Point72 Asset Management L.P. increased its position in Himax Technologies by 346.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company’s stock valued at $31,153,000 after buying an additional 3,006,311 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Himax Technologies in the 4th quarter valued at about $18,431,000. Robeco Institutional Asset Management B.V. increased its position 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 valued at $15,349,000 after buying an additional 243,178 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Himax Technologies by 25.8% in the 4th quarter. Two Sigma Advisers LP now owns 916,000 shares of the semiconductor company’s stock valued at $7,365,000 after buying an additional 187,600 shares in the last quarter. 69.81% of the stock is 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.