Himax Technologies Plans Up To $20 Mln Share Buyback; Stock Up In Pre-market

(RTTNews) - Shares of Himax Technologies, Inc. (HIMX) were gaining around 3 percent in the pre-market activity on the Nasdaq after the fabless semiconductor solution provider announced Wednesday that its Board of Directors has approved a share buyback program of up to $20 million.

The program authorizes the company to repurchase its American Depository Shares or ADSs in the open market or through privately negotiated transactions.

The program will take effect immediately, and it does not obligate Himax to repurchase any specific amount of ADSs. The program may be modified or suspended at the Companys discretion at any time, it said.

Jordan Wu, President and Chief Executive Officer of Himax, noted that since its IPO in 2006, the firm has returned more than one billion dollars to shareholders through buybacks and dividends.

The company said it continues to make strategic investments in high-growth sectors, reinforcing its commitment to driving innovation and delivering long-term value.