Himax Technologies (NASDAQ:HIMX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Himax Technologies, Inc. (NASDAQ:HIMX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.42 and traded as high as $8.25. Himax Technologies shares last traded at $7.96, with a volume of 1,072,233 shares traded.

Analyst Ratings Changes

Separately, Robert W. Baird lifted 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, December 13th.

Himax Technologies Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64. The firm has a 50 day moving average price of $6.31 and a two-hundred day moving average price of $6.42. The company has a market capitalization of $1.39 billion, a P/E ratio of 18.09 and a beta of 2.07.

Himax Technologies (NASDAQ:HIMX) last announced 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 return on equity of 9.06% and a net margin of 8.77%. The firm had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $205.93 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year.

Himax Technologies announced that its Board of Directors has initiated a share 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 buy up to 1.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMX. Susquehanna Fundamental Investments LLC bought a new position in Himax Technologies in the 2nd quarter valued at $79,000. Aprio Wealth Management LLC acquired a new stake in shares of Himax Technologies in the third quarter valued at $56,000. Sanctuary Advisors LLC bought a new position in shares of Himax Technologies in the second quarter valued at about $115,000. Virtu Financial LLC acquired a new position in Himax Technologies during the 3rd quarter worth about $98,000. Finally, US Bancorp DE grew its holdings in Himax Technologies by 1,239.6% during the 3rd quarter. US Bancorp DE now owns 24,032 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 22,238 shares during the last quarter. 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.