Himax Technologies (NASDAQ:HIMX) Shares Gap Down - Here's What Happened

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $9.44, but opened at $9.02. Himax Technologies shares last traded at $9.02, with a volume of 17,363 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HIMX shares. Wall Street Zen lowered shares of Himax Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley began coverage on Himax Technologies in a research report on Friday, May 9th. They set an "overweight" rating and a $8.80 price objective on the stock.

Himax Technologies Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.52 and a current ratio of 1.71. The company has a market cap of $1.56 billion, a PE ratio of 18.22 and a beta of 2.17. The business's 50-day moving average is $8.28 and its 200 day moving average is $8.46.

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. The company had revenue of $215.13 million during the quarter, compared to analyst estimates of $207.10 million. Himax Technologies had a net margin of 9.54% and a return on equity of 9.83%. Himax Technologies's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share.

Himax Technologies Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 3.7%. Himax Technologies's payout ratio is currently 57.14%.

Hedge Funds Weigh In On Himax Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in Himax Technologies by 2.4% during the 1st quarter. Acadian Asset Management LLC now owns 6,745,661 shares of the semiconductor company's stock valued at $49,533,000 after purchasing an additional 156,255 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Himax Technologies by 127.6% during the first quarter. Goldman Sachs Group Inc. now owns 240,411 shares of the semiconductor company's stock valued at $1,767,000 after acquiring an additional 134,799 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new stake in shares of Himax Technologies during the first quarter valued at approximately $330,000. Aprio Wealth Management LLC raised its holdings in Himax Technologies by 93.9% in the 1st quarter. Aprio Wealth Management LLC now owns 19,864 shares of the semiconductor company's stock worth $146,000 after acquiring an additional 9,621 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Himax Technologies by 3.7% in the 1st quarter. Royal Bank of Canada now owns 106,503 shares of the semiconductor company's stock valued at $782,000 after acquiring an additional 3,811 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors.

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.