Himax Technologies Inc (NASDAQ:HIMX) has been moving in a sideways range since hitting its peak in February. In this range, the stock has formed a resistance line and a level of support. If the stock breaks through either level, a big move is expected. Read more to learn how to take advantage of this trading opportunity.Himax Technologies Inc (HIMX) is a semiconductor solution provider dedicated to display imaging processing technologies. It offers display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, virtual reality (VR) devices, and many other consumer electronics devices.
The company is benefiting from long-term demand for displays in smartphones, smartwatches, and other devices. HIMX is a major supplier of the chips needed for screens and touch displays. This demand has led to year over year rises in both earnings and sales in the most recent quarter.
HIMX has a current ratio of 2.1, which indicates the company has more than enough liquidity to handle short-term obligations. Management is also efficient with a return on equity of 20.2%. Analysts forecast 81.4% year over year revenue growth and 4,500% year over year earnings growth in the current quarter.