Is Himax Technologies, Inc. (ADR) (HIMX) Worthy of Your Portfolio?

Consequently, key money managers have jumped into Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) headfirst. Matrix Capital Management created the most outsized position in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). Warren Lammert’s Granite Point Capital also initiated a $4.7 million position during the quarter. The following funds were also among the new HIMX investors: Warren Lammert’s Granite Point Capital, Richard Driehaus’ Driehaus Capital, and Daniel S. Och’s OZ Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) but similarly valued. We will take a look at ADTRAN, Inc. (NASDAQ:ADTN), 1st Source Corporation (NASDAQ:SRCE), Express, Inc. (NYSE:EXPR), and Isle of Capri Casinos (NASDAQ:ISLE). This group of stocks’ market values are similar to HIMX’s market value.

As you can see these stocks had an average of 17 funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $166 million in HIMX’s case. Express, Inc. (NYSE:EXPR) is the most popular stock in this table. On the other hand 1st Source Corporation (NASDAQ:SRCE) is the least popular one with only seven funds holding shares. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Express, Inc. (NYSE:EXPR) might be a better candidate to consider taking a long position in.

Disclosure: none