Himax Technologies (NASDAQ:HIMX) Shares Gap Down – Here’s What Happened

Himax Technologies, Inc. (NASDAQ:HIMX) gapped down prior to trading on Thursday. The stock had previously closed at $10.44, but opened at $7.73. Himax Technologies shares last traded at $7.8390, with a volume of 1,147,253 shares changing hands.

Wall Street Analyst Weigh In

HIMX has been the topic of a number of research reports. Wall Street Zen lowered shares of Himax Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himax Technologies in a research note on Friday, September 25th. Three research analysts have rated the stock with a Hold rating. According to MarketBeat, Himax Technologies presently has an average rating of “Hold” and an average price target of $8.00.

Himax Technologies Price Performance

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 36.48 and a beta of 2.46. The company has a fifty day simple moving average of $13.13 and a 200 day simple moving average of $12.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.55.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $246.75 million for the quarter, compared to analyst estimates of $247.76 million. Himax Technologies had a return on equity of 3.90% and a net margin of 4.26%. The business’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. Equities research analysts forecast that Himax Technologies, Inc. will post 0.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Himax Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in Himax Technologies in the second quarter valued at approximately $26,000. Rockefeller Capital Management L.P. raised its stake in Himax Technologies by 976.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,340 shares of the semiconductor company’s stock worth $44,000 after buying an additional 4,844 shares during the last quarter. IFP Advisors Inc raised its stake in Himax Technologies by 799.9% during the second quarter. IFP Advisors Inc now owns 6,065 shares of the semiconductor company’s stock worth $93,000 after buying an additional 5,391 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in Himax Technologies in the third quarter valued at $99,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Himax Technologies by 51.0% in the first quarter. EverSource Wealth Advisors LLC now owns 7,589 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 2,564 shares during the period. 69.81% of the stock is owned by institutional investors and hedge funds.

Himax Technologies Company Profile

Himax Technologies, Inc is a fabless semiconductor company headquartered in Tainan, Taiwan. Founded in 2001, the company designs and supplies display-related integrated circuits and other semiconductor components for manufacturers of consumer electronics, automotive systems and industrial devices. Himax has been listed on the Nasdaq since 2006 under the symbol HIMX.

The company’s product portfolio includes display driver ICs, timing controllers, touch and display driver integration products, and other components used in televisions, monitors, notebook computers, smartphones, tablets and automotive displays.