Himax Technologies (NASDAQ:HIMX) Shares Gap Down - What's Next?

Key Points

• Himax Technologies shares gapped down significantly prior to trading on Thursday, opening at $7.54 after a previous close of $8.63, and last traded at $7.37 with a volume of nearly 1 million shares.
• According to Morgan Stanley, the stock is rated "overweight" with a price target of $8.80, indicating potential upside despite the recent drop in share price.
• The company recently reported earnings of $0.11 per share, surpassing estimates, and announced a substantial annual dividend yielding 370%, reflecting a payout ratio of 73.47%.

Shares of Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $8.63, but opened at $7.54. Himax Technologies shares last traded at $7.37, with a volume of 999,729 shares.

Wall Street Analyst Weigh In

Separately, Morgan Stanley began coverage on Himax Technologies in a report on Friday, May 9th. They set an "overweight" rating and a $8.80 price objective for the company.

Himax Technologies Trading Down 0.8%

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 business has a fifty day simple moving average of $9.03 and a 200 day simple moving average of $8.60. The company has a market cap of $1.26 billion, a P/E ratio of 17.17 and a beta of 2.21.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Himax Technologies had a return on equity of 8.34% and a net margin of 8.34%. The firm had revenue of $214.80 million for the quarter, compared to the consensus estimate of $212.00 million. During the same quarter in the previous year, the business earned $0.17 EPS. The firm's revenue for the quarter was down 10.4% 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 given a $0.29 dividend. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend was Monday, June 30th. Himax Technologies's dividend payout ratio (DPR) is 85.71%.

Institutional Trading of Himax Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in Himax Technologies by 42,262.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,389 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 3,381 shares during the last quarter. USA Financial Formulas bought a new position in shares of Himax Technologies in the second quarter worth about $32,000. Wealthquest Corp bought a new position in shares of Himax Technologies in the first quarter worth about $27,000. Barclays PLC increased its stake in Himax Technologies by 38.8% during the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 1,187 shares during the period. Finally, JNBA Financial Advisors bought a new stake in shares of Himax Technologies in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 69.81% of the company's stock.

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.