Himax Technologies (NASDAQ:HIMX) Stock Price Down 5.2% – Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX) shares traded down 5.2% during trading on Thursday . The stock traded as low as $7.61 and last traded at $7.62. 312,124 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,834,854 shares. The stock had previously closed at $8.04.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their price target on shares of Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 13th.

Himax Technologies Trading Up 1.3 %

The business has a fifty day moving average price of $6.51 and a 200 day moving average price of $6.47. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 17.23 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $205.93 million. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has approved a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIMX. Acadian Asset Management LLC raised its position in Himax Technologies by 31.2% in the second quarter. Acadian Asset Management LLC now owns 3,369,618 shares of the semiconductor company’s stock worth $26,728,000 after purchasing an additional 800,684 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Himax Technologies in the 2nd quarter worth approximately $5,817,000. Point72 Asset Management L.P. lifted its position in shares of Himax Technologies by 1,104.4% during 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. Robeco Institutional Asset Management B.V. boosted its stake in Himax Technologies by 32.4% in the 3rd 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 buying an additional 407,400 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Himax Technologies by 324.2% in the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after acquiring an additional 226,386 shares during the period. 69.81% of the stock is currently owned by institutional investors and hedge funds.

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.