Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) Stock Surge 9.6%

0
824

Dallas, Texas 07/08/2015 (Financialstrend) – Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), the maker of micro display technologies in liquid crystal as well as silicon, received an upgrade by analyst firm, Chardan Capital Markets.  Jay Srivatsa, of Chardan Capital, upgraded the company to ‘buy’ from ‘sell,’ driving share prices up by 9.6%, on Tuesday. The analyst firm also raised the price target $4 and $13.

In recent weeks, the semiconductor solutions provider has wrangled a component deal with software giant Microsoft Corp (NASDAQ:MSFT), which analysts’ read as holding huge potential for the semiconductor company. The affiliation with Microsoft, comes soon after a thwarted deal with Google Inc (NASDAQ:GOOG) to supply eyewear for the latter’s flagship internet of things, and wearable technology product ‘Glasses.’ The search engine giant had canceled its agreement with HIMAX leading to stock market loss for the semiconductor company, in October.

However, the downfall of nine months ago, is all set to change as Microsoft Corporation is moving swiftly to introduce its own augmented reality headset. Microsoft Corporation, with the launch of HoloLens will join a select band of technology players already in the market with their proprietary augmented reality headsets such as Oculus and others.

The augmented reality headset Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) upgrade to Buy is aligned with the vendor contract with Microsoft for two driver ICs, since HoloLens includes two viewing lenses. The HoloLens contract is expected to be double that of Google Glasses contract.

Analysts believe that if MSFT were to remain consistent with its launch of HoloLens, then Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) would see an upside by its third quarter of 2015. By the fourth quarter the ramping for HIMX would be optimized, as full production is expected in fiscal 2016, reported Srivatsa.

It is expected that Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) revenue, will incrementally grow to $80 to $120 million in fiscal 2016.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.