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%.

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s stock price gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on shares of Himax Technologies in a research note on Friday, May 9th. They issued an "overweight" rating and a $8.80 price objective for the company.

Himax Technologies Trading Up 1.5%

The firm's 50-day moving average is $9.05 and its 200-day moving average is $8.66. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 17.31 and a beta of 2.21.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $214.80 million for the quarter, compared to the consensus estimate of $212.00 million. Himax Technologies had a net margin of 8.34% and a return on equity of 8.29%. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS.

Himax Technologies Announces Dividend

The business also recently declared an annual dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were issued 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 payout ratio is 73.47%.

Hedge Funds Weigh In On Himax Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Himax Technologies during the fourth quarter worth about $106,000. Orion Portfolio Solutions LLC bought a new position in Himax Technologies during the fourth quarter worth about $107,000. Envestnet Asset Management Inc. boosted its position in Himax Technologies by 1.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 217,671 shares of the semiconductor company's stock worth $1,750,000 after purchasing an additional 4,143 shares during the period. Barclays PLC boosted its position in Himax Technologies by 38.8% during the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 1,187 shares during the period. Finally, PEAK6 LLC bought a new position in Himax Technologies during the fourth quarter worth about $107,000. 69.81% of the stock is owned by hedge funds and other institutional investors.

Himax Technologies Company 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.