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Why Himax Technologies Shares Soared

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Himax Technologies (NASDAQ: HIMX  ) have soared today by as much as 13% on positive analyst sentiment regarding the company's upcoming earnings.

So what: Wedge Partners believes that Himax is set up for a first-quarter beat, thanks to strong sales related to tablet and smartphone form factors. The firm believes that Himax has won deals with Microsoft, Sony, and Samsung, which will help boost first-quarter sales above its own guidance.

Now what: Himax is expected to be a beneficiary of a larger shift toward higher resolution panels within mobile devices, since it supplies panel driver integrated circuits. Himax has been on an incredible run lately, in part on hopes that the company will be a supplier for Google's upcoming Glass product. I think shares have gotten a little frothy, which is why I've given it an "underperform" CAPScall that's currently going against me.

Interested in more info on Himax? Add it to your watchlist by clicking here.

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  • Report this Comment On April 03, 2013, at 1:03 PM, ChanHol wrote:

    More than anything, it appears that HIMX soared because of the article the author cited on Seeking Alpha on March 5, speculating that HIMX would be the supplier for Google Glasses. Pure speculation. But, those who jumped aboard had an opportunity to get in near $3.40, and have already had a nice exit opportunity at $5.70. Not a bad return for a couple of weeks. I certainly agree with the author that the stock is now frothy, and I would guess a retrace of the bulk (if not all) of the gains is in the near future.

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