Audio Pixels shares are enjoying some gains today. Here’s why this tech company is getting some green.
The post Why the Audio Pixels (ASX:AKP) share price jumped 7% this morning appeared first on The Motley Fool Australia. –
The Audio Pixels Holdings Ltd (ASX: AKP) share price is on the move today.
Audio Pixels shares have edged 0.04% at the time of writing to $23.70 per share. That’s after closing at $23.69 per share yesterday and opening at $24.40 this morning.
It was a lot better for Audio Pixels earlier this morning as well. Soon after open, this company got all the way up to $25.35 a share. At the time, that was a gain of more than 7%.
These latest moves in the Audio Pixels share price might come as a relief for investors, who had to watch the shares fall more than 35% between 30 March and 17 May.
A quarterly update the company put out at the end of April did not restore investors’ confidence. Audio Pixels flagged semiconductor supply chain squeezes and packaging issues that were taking a toll on its business.
Investors weren’t impressed at the time, and sent Audio Pixels shares down 10% on the news.
So what’s going right today?
Today’s share price moves can be put down to a presentation the company has released today that was shown as part of its annual general meeting.
In this meeting, Audio Pixels reiterated that it is facing global supply chain and packaging issues.
However, it also announced that its new high-voltage ASIC speaker chip is set to begin production in the fourth quarter of 2021.
In addition, the company told investors its production time for manufacturing/fabrication of wafer chips has fallen to record lows.
Back in 2013, it took Audio Pixels 52 weeks to make a wafer chip. By 2020, this had fallen to 10 weeks. It now estimates by the fourth quarter of 2021, it will be at 6 weeks.
About the Audio Pixels share price
Audio Pixels is a company dedicated to manufacturing high-quality speaker technology for small applications, such as smartphone speakers.
The company has had a bumpy ride, share-price wise, since its listing in 2004. Although Audio Pixels shares are up close to 5,000% since then, the company has yet to reclaim the share-price highs we saw back in 2017, when the company reached close to $33 per share.
On the company’s current share price, Audio Pixels has a market capitalisation of $700.5 million.
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