15 AI Stocks That Are On Sale

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4. Himax Technologies, Inc. (NASDAQ:HIMX)

Number of Hedge Fund Holders: 15

Expected Earnings Growth: 41.4%

P/E Ratio: 12.4

Himax Technologies, Inc. (NASDAQ:HIMX) is a fabless semiconductor company that offers display imaging processing technologies. It is based in Taiwan.

In the second quarter, Himax Technologies, Inc. (NASDAQ:HIMX) saw revenues come in at $239.6 million, up 15.5% sequentially and exceeding the guidance range of an 8%-13% increase. Gross margin for the second quarter was 32%, up 21.7% year-over-year. The main reasons for this growth include cost improvements and increased sales in Himax Technologies, Inc.’s (NASDAQ:HIMX) automotive IC and Tcon product lines.

Himax Technologies, Inc. (NASDAQ:HIMX) has also acquired a 5.3% equity stake through private placement in FOCI. Through this, the company aims to integrate its Wafer Level Optics, WLO expertise, and FOCI’s optical fiber know-how to create innovative Linear-drive Pluggable Optics and Co-Packaged Optics for advanced multi-chip modules needed for the cloud AI and high-speed computing markets.

In total, 15 hedge funds were long Himax Technologies, Inc. (NASDAQ:HIMX) in the second quarter, with a total stake value of $34.3 million.

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