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

Shares of Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report) gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

HIMX has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Himax Technologies in a research report on Friday, May 9th. They issued an "overweight" rating and a $8.80 price objective on the stock. Wall Street Zen downgraded shares of Himax Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 7th.

Himax Technologies Price Performance

The company has a 50 day moving average of $8.43 and a 200 day moving average of $8.48. 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 $1.65 billion, a price-to-earnings ratio of 19.22 and a beta of 2.15.

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

Himax Technologies Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 30th. Himax Technologies's payout ratio is 73.47%.

Institutional Trading of Himax Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Himax Technologies by 42,262.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,389 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 3,381 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Himax Technologies during the 1st quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new stake in Himax Technologies in the 4th quarter valued at about $28,000. JNBA Financial Advisors bought a new position in Himax Technologies during the first quarter worth about $33,000. Finally, Barclays PLC increased 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 buying an additional 1,187 shares during the last quarter. 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.