Public Employees Retirement System of Ohio Buys New Stake in Himax Technologies, Inc. (NASDAQ:HIMX)

Public Employees Retirement System of Ohio purchased a new position in Himax Technologies, Inc. (NASDAQ:HIMX) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 204,570 shares of the semiconductor company’s stock, valued at approximately $1,125,000.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC increased its holdings in shares of Himax Technologies by 1,400.0% during 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 in the last quarter. Blue Trust Inc. boosted its stake 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 worth $49,000 after purchasing an additional 6,217 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Himax Technologies during the 2nd quarter worth approximately $79,000. Aprio Wealth Management LLC acquired a new position in Himax Technologies during the 3rd quarter valued at approximately $56,000. Finally, Sanctuary Advisors LLC acquired a new position in Himax Technologies during the 2nd quarter valued at approximately $115,000. 69.81% of the stock is owned by institutional investors and hedge funds.

Himax Technologies Stock Down 0.9 %

Shares of HIMX stock opened at $7.57 on Friday. Himax Technologies, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $9.80. The firm has a market capitalization of $1.32 billion, a PE ratio of 17.20 and a beta of 2.07. 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 stock’s 50-day simple moving average is $6.14 and its 200-day simple moving average is $6.37.

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, topping the consensus estimate of $0.04 by $0.03. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. During the same quarter in the prior year, the company earned $0.06 EPS. Himax Technologies’s quarterly revenue was down 6.8% on a year-over-year basis.

Himax Technologies declared that its board has initiated a share 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 repurchase up to 1.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on shares of Himax Technologies from $7.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th.

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.