Himax Technologies (NASDAQ:HIMX) Announces Stock Repurchase Program

Himax Technologies (NASDAQ:HIMX) announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Himax Technologies Stock Up 8.3 %

HIMX stock opened at $6.69 on Friday. Himax Technologies has a one year low of $4.80 and a one year high of $8.73. The firm has a market cap of $1.17 billion, a PE ratio of 15.20 and a beta of 2.07. The firm’s 50 day moving average price is $5.77 and its 200-day moving average price is $6.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.64.

Himax Technologies (NASDAQ:HIMX) last posted its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share.

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.