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Himax (HIMX) Surges 9%: Is This an Indication of Further Gains?
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Himax Tech (HIMX - Free Report) shares rallied 9% in the last trading session to close at $14.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.1% loss over the past four weeks.
Himax Technologies extended its rally, driven by an uptick in demand for its smartphone TDDI solutions, AMOLED driver ICs and PMIC for 5G smartphones owing to the solid rebound in the smartphone market. Further, recovery in the automotive sector which is spurring the demand for automotive driver ICs is benefiting the company.
Additionally, growing display driver adoption owing to the ongoing work-from-home and online-learning wave, and strength in Himax’s WiseEye technology across notebook, TV, doorbell, door lock and air conditioner end-markets are contributing well.
Price and Consensus
This fabless semiconductor company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +1500%. Revenues are expected to be $296.47 million, up 60.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Himax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HIMX going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Himax (HIMX) Surges 9%: Is This an Indication of Further Gains?
Himax Tech (HIMX - Free Report) shares rallied 9% in the last trading session to close at $14.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.1% loss over the past four weeks.
Himax Technologies extended its rally, driven by an uptick in demand for its smartphone TDDI solutions, AMOLED driver ICs and PMIC for 5G smartphones owing to the solid rebound in the smartphone market. Further, recovery in the automotive sector which is spurring the demand for automotive driver ICs is benefiting the company.
Additionally, growing display driver adoption owing to the ongoing work-from-home and online-learning wave, and strength in Himax’s WiseEye technology across notebook, TV, doorbell, door lock and air conditioner end-markets are contributing well.
Price and Consensus
This fabless semiconductor company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +1500%. Revenues are expected to be $296.47 million, up 60.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Himax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HIMX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>