Himax Technologies (NASDAQ:HIMX) Shares Gap Up - Time to Buy?

Himax Technologies, Inc. (NASDAQ:HIMX - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.98, but opened at $9.30. Himax Technologies shares last traded at $9.27, with a volume of 440,090 shares.

Analysts Set New Price Targets

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

Himax Technologies Price Performance

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 19.99 and a beta of 2.17. The company has a quick ratio of 1.43, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $7.61 and its 200-day moving average price is $8.21.

Himax Technologies (NASDAQ:HIMX - Get Free Report) last released 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. Himax Technologies had a net margin of 8.80% and a return on equity of 9.09%. The firm had revenue of $215.13 million for the quarter, compared to analyst estimates of $207.10 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year.

Himax Technologies Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a yield of 3.7%. Himax Technologies's dividend payout ratio is currently 148.98%.

Hedge Funds Weigh In On Himax Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in Himax Technologies by 38.8% in the fourth quarter. Barclays PLC now owns 4,248 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 1,187 shares during the last quarter. Stifel Financial Corp raised its position in Himax Technologies by 0.3% during the 4th quarter. Stifel Financial Corp now owns 471,801 shares of the semiconductor company's stock worth $3,793,000 after buying an additional 1,275 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Himax Technologies by 9.5% in the first quarter. QRG Capital Management Inc. now owns 22,806 shares of the semiconductor company's stock valued at $168,000 after acquiring an additional 1,988 shares during the period. GAMMA Investing LLC raised its stake in shares of Himax Technologies by 20.9% during the 1st quarter. GAMMA Investing LLC now owns 12,444 shares of the semiconductor company's stock worth $91,000 after buying an additional 2,154 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Himax Technologies by 16.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,839 shares of the semiconductor company's stock worth $124,000 after buying an additional 2,348 shares during the last quarter. 69.81% of the stock is currently owned by hedge funds and other 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.