Himax Technologies, Inc. (NASDAQ:HIMX)
CAPS Rating:
The Company designs, develops and markets semiconductors that are critical components of flat panel displays.
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The Company designs, develops and markets semiconductors that are critical components of flat panel displays.
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I have been following Himax for about 4 years now and have seen this pattern a few times now and that is the reason I have given them the thumbs down. I also did a valuation of the stock and have it at 1.50 or so. I am now just waiting to see if it gets back down to a 1.10 or so before I go back in. If they break back above 2.00 in the next couple of months I will look at the company again to see what has changed and maybe change my call.
When I wrote that on 7/9 the price was between 1.8-1.85, it is now at 1.53. I would just let the pattern play out and hopefully pick up between 1 to 1.10. Himax will most likely go under $1 for a few day or weeks and I would pick it up on its way back up over $1. I would say you could start nibbling anytime around 1.40 if you would like.
ended pick, because of the hype will look back into on 8/9-10 after earnings. I have been watching earnings a lot this season and the ones that have missed have just been crushed. I have seen really strong company lose nearly 20%: COH, EZPW, CSH, and the ones that beat do not do too much on the upside. But with HIMX being so small a 20% jump is very possible, which would wipe out my gains.