Himax Technologies (NASDAQ:HIMX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Himax Technologies, Inc. (NASDAQ:HIMX)’s share 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.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price target 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 Performance

The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.09 and a beta of 2.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The firm has a fifty day simple moving average of $6.31 and a 200 day simple moving average of $6.42.

Himax Technologies (NASDAQ:HIMX) last posted its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) 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 analyst estimates of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. Himax Technologies’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS.

Himax Technologies announced that its Board of Directors has authorized a stock repurchase 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 generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Himax Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of HIMX. Sanctuary Advisors LLC grew its position in Himax Technologies by 33.9% during the third quarter. Sanctuary Advisors LLC now owns 19,431 shares of the semiconductor company’s stock worth $102,000 after buying an additional 4,915 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Himax Technologies in the 2nd quarter worth approximately $79,000. Aprio Wealth Management LLC acquired a new stake in shares of Himax Technologies during the 3rd quarter worth approximately $56,000. Virtu Financial LLC bought a new stake in shares of Himax Technologies during the third quarter valued at approximately $98,000. Finally, Creative Planning raised its stake in shares of Himax Technologies by 53.1% in the second quarter. Creative Planning now owns 51,719 shares of the semiconductor company’s stock valued at $411,000 after purchasing an additional 17,939 shares in the last quarter. Institutional investors own 69.81% of the company’s stock.

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.