Curious who's crazy about Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)?
At the moment, there are plenty of gauges investors can use to analyze their holdings. A pair of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can beat their index-focused peers by a superb amount (see just how much).
Equally as useful, bullish insider trading sentiment is another way to look at the marketplace. There are plenty of stimuli for an insider to get rid of shares of his or her company, but only one, very clear reason why they would behave bullishly. Several academic studies have demonstrated the market-beating potential of this tactic if shareholders understand where to look (learn more here).
Thus, it's important to analyze the newest info surrounding Himax Technologies, Inc. (ADR) (NASDAQ:HIMX).
At Q2's end, a total of 18 of the hedge funds we track were long in this stock, a change of 100% from the first quarter. With hedgies' positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their holdings substantially.
When using filings from the hedgies we track, Gifford Combs's Dalton Investments had the largest position in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), worth close to $17.3 million, comprising 4.2% of its total 13F portfolio. Sitting at the No. 2 spot is Renaissance Technologies, managed by Jim Simons, which held a $16.9 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedgies that are bullish include James Dinan's York Capital Management, Scott Fine and Peter Richards's Empire Capital Management and Robert B. Gillam's McKinley Capital Management.
Consequently, specific money managers were breaking ground themselves. Dalton Investments, managed by Gifford Combs, created the most outsized position in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). Dalton Investments had 17.3 million invested in the company at the end of the quarter. Jim Simons's Renaissance Technologies also initiated a $16.9 million position during the quarter. The following funds were also among the new HIMX investors: James Dinan's York Capital Management, Scott Fine and Peter Richards's Empire Capital Management, and Robert B. Gillam's McKinley Capital Management.
Legal insider trading, particularly when it's bullish, is best served when the company in question has seen transactions within the past six months. Over the latest half-year time frame, Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We'll also examine the relationship between both of these indicators in other stocks similar to Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). These stocks are JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), SolarCity Corp (NASDAQ:SCTY), Magnachip Semiconductor Corp (NYSE:MX), Lattice Semiconductor (NASDAQ:LSCC), and Monolithic Power Systems, Inc. (NASDAQ:MPWR). This group of stocks are the members of the semiconductor - specialized industry and their market caps resemble HIMX's market cap.