Himax Technologies (NASDAQ:HIMX) to Buyback $20.00 million in Outstanding Shares

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

Himax Technologies Stock Performance

HIMX traded up $0.60 on Wednesday, hitting $6.04. 2,537,229 shares of the stock traded hands, compared to its average volume of 790,884. Himax Technologies has a 52 week low of $4.80 and a 52 week high of $8.73. The company has a current ratio of 1.64, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.06 billion, a PE ratio of 13.73 and a beta of 2.07. The business has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $6.30.

Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The business 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%. Himax Technologies’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS.

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.