Robert W. Baird Increases Himax Technologies (NASDAQ:HIMX) Price Target to $15.00

Himax Technologies (NASDAQ:HIMX) had its price objective boosted by research analysts at Robert W. Baird from $7.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price target points to a potential upside of 74.72% from the company’s previous close.

Himax Technologies Trading Down 11.6 %

HIMX opened at $8.59 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 19.51 and a beta of 2.07. The company’s 50 day simple moving average is $5.99 and its two-hundred day simple moving average is $6.34. Himax Technologies has a 1-year low of $4.80 and a 1-year high of $9.80. 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 announced its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share.

Himax Technologies declared that its board has authorized a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Himax Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC lifted its holdings in Himax Technologies by 1,400.0% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 4,200 shares during the last quarter. Blue Trust Inc. raised its holdings in Himax Technologies by 77,712.5% in the 2nd quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 6,217 shares during the period. Aprio Wealth Management LLC acquired a new position in Himax Technologies in the third quarter valued at about $56,000. Susquehanna Fundamental Investments LLC purchased a new position in Himax Technologies during the second quarter worth about $79,000. Finally, Virtu Financial LLC acquired a new stake in shares of Himax Technologies during the third quarter valued at about $98,000. Institutional investors and hedge funds own 69.81% of the company’s stock.

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.