Recent insider trends for Himax Technologies, Inc. (NASDAQ:HIMX) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. HIMX’s insider trading patterns have some implications for where the stock might be headed.
Institutions own 13.46% of Himax Technologies, Inc. (HIMX)’s shares. The total value of these holdings, in millions, is $617. Among active positions in the latest quarter, 78 holders increased their positions by a total of 15.01 million shares, 37 holders decreased the positions by a total of 6.02 million shares, and 18 holders held their positions. This works out to a net increase in ownership of 8.99 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 35 holders initiated new positions by a total of 5.87 million shares and 15 holders exited their positions by a total of 1.2 million shares. This nets out to an increase of 4.67 million shares and is a bullish sign for HIMX.
Insider ownership increased by a total of 0 shares, which suggests that HIMX’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Himax Technologies, Inc. (NASDAQ:HIMX)’s short interest is 30.55 million shares, or 24.25% of the float. This represents an increase of 1% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that HIMX is a Weak buy, which implies that HIMX is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Himax Technologies, Inc. (NASDAQ:HIMX) is undervalued.