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.

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Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.