GAMMA Investing LLC Raises Stake in Himax Technologies, Inc. (NASDAQ:HIMX)

GAMMA Investing LLC grew its holdings in shares of Himax Technologies, Inc. (NASDAQ:HIMX) by 90.5% during the 4th quarter, HoldingsChannel reports. The fund owned 10,290 shares of the semiconductor company’s stock after acquiring an additional 4,888 shares during the quarter. GAMMA Investing LLC’s holdings in Himax Technologies were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HIMX. Point72 Asset Management L.P. raised its position in Himax Technologies by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 868,500 shares of the semiconductor company’s stock worth $4,777,000 after purchasing an additional 288,000 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Himax Technologies in the 3rd quarter worth approximately $1,125,000. Point72 Hong Kong Ltd bought a new stake in Himax Technologies in the second quarter valued at approximately $5,817,000. BNP Paribas Financial Markets boosted its stake in shares of Himax Technologies by 324.2% during the third quarter. BNP Paribas Financial Markets now owns 296,210 shares of the semiconductor company’s stock valued at $1,629,000 after purchasing an additional 226,386 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Himax Technologies by 4.8% during the third quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock valued at $2,588,000 after purchasing an additional 21,607 shares during the period. 69.81% of the stock is currently owned by institutional investors.

Himax Technologies Price Performance

Shares of Himax Technologies stock opened at $7.68 on Friday. The company has a market cap of $1.34 billion, a PE ratio of 17.45 and a beta of 1.94. The business has a 50 day moving average of $6.71 and a 200 day moving average of $6.46. Himax Technologies, Inc. has a 52 week low of $4.80 and a 52 week high of $9.80. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share.

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

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their target price 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 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.