Herald Investment Management Ltd Takes Position in Himax Technologies, Inc. (NASDAQ:HIMX)

Key Points

• Herald Investment Management Ltd has purchased a new position in Himax Technologies, acquiring 230,000 shares valued at approximately $1.69 million, representing 0.13% of the company.
• Morgan Stanley has issued an "overweight" rating for Himax Technologies with a target price of $8.80.
• Himax Technologies recently reported earnings meeting consensus estimates with a revenue of $214.80 million, though revenue was down 10.4% compared to the previous year.

Herald Investment Management Ltd purchased a new position in Himax Technologies, Inc. (NASDAQ:HIMX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 230,000 shares of the semiconductor company's stock, valued at approximately $1,690,000. Herald Investment Management Ltd owned approximately 0.13% of Himax Technologies at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in Himax Technologies by 2.7% in the fourth quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company's stock valued at $35,033,000 after acquiring an additional 116,088 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Himax Technologies by 346.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,874,811 shares of the semiconductor company's stock worth $31,153,000 after purchasing an additional 3,006,311 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Himax Technologies during the fourth quarter worth about $18,431,000. Robeco Institutional Asset Management B.V. boosted its position in Himax Technologies by 16.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,230,791 shares of the semiconductor company's stock worth $16,396,000 after purchasing an additional 321,755 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Himax Technologies during the first quarter worth approximately $8,586,000. 69.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Himax Technologies Stock Performance

Shares of Himax Technologies stock traded up $0.11 during mid-day trading on Tuesday, hitting $7.32. 820,550 shares of the stock were exchanged, compared to its average volume of 2,356,784. The company has a market capitalization of $1.28 billion, a P/E ratio of 17.46 and a beta of 2.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.54. The company has a 50-day simple moving average of $9.03 and a 200 day simple moving average of $8.60. Himax Technologies, Inc. has a 12 month low of $5.12 and a 12 month high of $13.91.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The business had revenue of $214.80 million for the quarter, compared to analyst estimates of $212.00 million. Himax Technologies had a net margin of 8.34% and a return on equity of 8.34%. The company's revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS.

Himax Technologies Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a yield of 370.0%. Himax Technologies's dividend payout ratio (DPR) is currently 85.71%.

About Himax Technologies

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.