Shares of Himax Technologies, Inc. (NASDAQ:HIMX) shot up 2% during mid-day trading on Tuesday . The company traded as high as $11.39 and last traded at $11.09. 7,124,376 shares changed hands during trading, an increase of 63% from the average session volume of 4,380,790 shares. The stock had previously closed at $11.31.
A number of brokerages have recently issued reports on HIMX. Credit Suisse Group upgraded shares of Himax Technologies from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, August 4th. Oppenheimer Holdings, Inc. restated a “sell” rating and set a $4.00 price target on shares of Himax Technologies in a report on Thursday, September 7th. Macquarie reiterated an “outperform” rating and issued a $12.20 target price (up previously from $11.00) on shares of Himax Technologies in a report on Wednesday, September 6th. ValuEngine downgraded shares of Himax Technologies from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. Finally, Vetr downgraded shares of Himax Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Himax Technologies currently has an average rating of “Hold” and an average target price of $8.70.
The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 100.872 and a beta of 0.80. The company has a 50-day moving average of $8.85 and a 200-day moving average of $8.09.
The firm also recently disclosed an annual dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a dividend yield of 2.71%. This is a positive change from Himax Technologies’s previous annual dividend of $0.12. Himax Technologies’s dividend payout ratio is presently 191.68%.
Several institutional investors have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp acquired a new stake in shares of Himax Technologies in the second quarter worth $763,000. Verition Fund Management LLC grew its holdings in Himax Technologies by 112.0% during the 2nd quarter. Verition Fund Management LLC now owns 303,622 shares of the semiconductor company’s stock valued at $2,490,000 after purchasing an additional 160,422 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Himax Technologies during the 2nd quarter valued at $145,000. State Street Corp grew its holdings in Himax Technologies by 9.6% during the 2nd quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 10,969 shares in the last quarter. Finally, Kayak Investment Partners LLC grew its holdings in Himax Technologies by 22.3% during the 2nd quarter. Kayak Investment Partners LLC now owns 2,633,900 shares of the semiconductor company’s stock valued at $21,598,000 after purchasing an additional 479,400 shares in the last quarter. 21.74% of the stock is owned by institutional investors.
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About Himax Technologies
Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.
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