Allianz Asset Management GmbH Invests $8.59 Million in Himax Technologies, Inc. (NASDAQ:HIMX)

Key Points

• Allianz Asset Management GmbH has acquired 1,168,155 shares of Himax Technologies, Inc. for approximately $8.586 million, increasing its stake to 0.67% of the company.
• The company reported $0.11 earnings per share for the last quarter, exceeding analysts' expectations, with revenues rising by 3.6% year-over-year to $215.13 million.
• Himax Technologies announced a $0.29 annual dividend with a yield of 3.7%, reflecting a dividend payout ratio of 73.47%.

Allianz Asset Management GmbH bought a new stake in shares of Himax Technologies, Inc. (NASDAQ:HIMX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,168,155 shares of the semiconductor company's stock, valued at approximately $8,586,000. Allianz Asset Management GmbH owned about 0.67% of Himax Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIMX. Wealthquest Corp bought a new position in shares of Himax Technologies in the first quarter worth approximately $27,000. JNBA Financial Advisors purchased a new position in shares of Himax Technologies during the 1st quarter valued at $33,000. Barclays PLC lifted its stake in shares of Himax Technologies by 38.8% during the 4th quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock valued at $34,000 after buying an additional 1,187 shares in the last quarter. Waverly Advisors LLC purchased a new position in shares of Himax Technologies during the 4th quarter valued at $83,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Himax Technologies by 20.9% in the first quarter. GAMMA Investing LLC now owns 12,444 shares of the semiconductor company's stock worth $91,000 after buying an additional 2,154 shares in the last quarter. 69.81% of the stock is owned by hedge funds and other institutional investors.

Himax Technologies Price Performance

HIMX traded down $0.06 during trading hours on Wednesday, hitting $9.04. The company's stock had a trading volume of 768,934 shares, compared to its average volume of 927,979. The business's 50-day moving average price is $9.05 and its 200-day moving average price is $8.68. Himax Technologies, Inc. has a 12 month low of $5.12 and a 12 month high of $13.91. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 18.45 and a beta of 2.15. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 0.03.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Himax Technologies had a net margin of 9.54% and a return on equity of 9.83%. The firm had revenue of $215.13 million for the quarter, compared to the consensus estimate of $207.10 million. During the same period in the previous year, the firm posted $0.07 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis.

Himax Technologies Announces Dividend

The firm also recently announced an annual dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 3.7%. Himax Technologies's dividend payout ratio (DPR) is presently 73.47%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley began coverage on shares of Himax Technologies in a report on Friday, May 9th. They issued an "overweight" rating and a $8.80 target price on the stock.

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.