Himax Technologies (NASDAQ:HIMX) Shares Gap Down – Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $9.71, but opened at $9.44. Himax Technologies shares last traded at $9.07, with a volume of 1,622,519 shares.

Wall Street Analysts Forecast Growth

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

Himax Technologies Trading Down 11.6 %

The company has a 50-day moving average price of $5.99 and a two-hundred day moving average price of $6.34. The stock has a market cap of $1.50 billion, a P/E ratio of 19.51 and a beta of 2.07. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

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 analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share.

Himax Technologies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 4th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Himax Technologies

Several hedge funds and other institutional investors have recently modified their holdings of HIMX. Summit Securities Group LLC lifted its holdings in Himax Technologies by 1,400.0% during the 2nd quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 4,200 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Himax Technologies by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 4,915 shares during the period. Blue Trust Inc. grew its stake in Himax Technologies by 77,712.5% in the second quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 6,217 shares in the last quarter. SG Americas Securities LLC grew its stake in Himax Technologies by 28.4% in the second quarter. SG Americas Securities LLC now owns 31,728 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 7,013 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Himax Technologies during the 2nd quarter worth $79,000. 69.81% of the stock is currently owned by hedge funds and other 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.