Soviero Asset Management LP Acquires New Position in Himax Technologies, Inc. (NASDAQ:HIMX)

Soviero Asset Management LP acquired a new stake in Himax Technologies, Inc. (NASDAQ:HIMX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 500,000 shares of the semiconductor company’s stock, valued at approximately $4,020,000. Himax Technologies accounts for 2.5% of Soviero Asset Management LP’s holdings, making the stock its 15th largest holding.

A number of other hedge funds have also recently modified their holdings of HIMX. E Fund Management Hong Kong Co. Ltd. acquired a new position in Himax Technologies in the fourth quarter valued at about $164,000. Robeco Institutional Asset Management B.V. lifted its position in Himax Technologies by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,909,036 shares of the semiconductor company’s stock valued at $15,349,000 after buying an additional 243,178 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Himax Technologies in the fourth quarter valued at about $167,000. Arrowstreet Capital Limited Partnership lifted its position in Himax Technologies by 28.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 694,445 shares of the semiconductor company’s stock valued at $5,583,000 after buying an additional 152,982 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Himax Technologies by 2.7% in the fourth quarter. Lazard Asset Management LLC now owns 4,357,482 shares of the semiconductor company’s stock valued at $35,033,000 after buying an additional 116,088 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Analyst Upgrades and Downgrades

HIMX has been the topic of a number of recent analyst reports. StockNews.com cut 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 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 Stock Down 2.1%

Shares of HIMX opened at $8.26 on Monday. The stock has a market capitalization of $1.44 billion, a PE ratio of 18.36 and a beta of 2.09. Himax Technologies, Inc. has a 1 year low of $5.12 and a 1 year high of $13.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.65. The company’s 50-day simple moving average is $7.42 and its 200-day simple moving average is $7.84.

Himax Technologies (NASDAQ:HIMX) last issued its quarterly earnings results 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 business had revenue of $215.13 million for the quarter, compared to analysts’ expectations of $207.10 million. Himax Technologies had a net margin of 8.80% and a return on equity of 9.09%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share.

Himax Technologies Announces Dividend

The company 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 $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 (DPR) is 75.51%.

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.