Himax Technologies (NASDAQ:HIMX) Board of Directors Authorizes Share Buyback Plan

Himax Technologies (NASDAQ:HIMX) declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 4th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Himax Technologies Stock Performance

Shares of NASDAQ:HIMX opened at $6.18 on Friday. The business’s 50 day moving average price is $5.75 and its 200-day moving average price is $6.29. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.05 and a beta of 2.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. Himax Technologies has a 1 year low of $4.80 and a 1 year high of $8.73.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $205.93 million. Himax Technologies had a return on equity of 9.06% and a net margin of 8.77%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS.

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.