Dallas, Texas 09/05/2013 (Financialstrend) – Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) shares have marked a bull-run over the past forty-five days. Its share price has gone up by a healthy 42% since July 19when it was trading at $5.17. Even more astounding is the over 330% appreciation in its share value in the last 52 weeks. On Sep 4, at close of business, it was trading at $7.35 up 13.43% over previous day close. Its current market valuation is $1.24 Billion with its 50 day average daily volume is 7.01 Million. With a little over 10% difference between its current price and the 52 weeks high of $8.19, analysts are predicting a sustained upward movement of this stock on the browsers over the next few weeks.
This sustained Bull Run is being fuelled by a combination of its current stable financials and its projected long term growth.
On August 15 it reported strong second quarter 2013 revenue, with 17.8% increase in sales over the previous quarter. Driven by seasonal increase in demand for TV panels, it gross margin increased by 24.6% on a year-on-year comparison.
Bright Long Term Prospects
In July this year, HIMAX announced Google Inc. acquiring of 6.3% stake in one of its subsidiaries that produces display solutions. Google Inc. is on a shopping spree to tie up technologies which will aid its quest to commercially produce wearable Google glasses. It is seeking to exploit HIMX speciality in producing liquid crystal on silicon chips and modules which can be used to make wearable applications like Google glasses. These liquid crystal displays are also extensively used in making head up display and pico projector products. However, investors should note that as part of the same deal, Google can exercise an option to acquire additional preferential shares to the tune of 8.5% taking its total holding to 14.8% if it so desires before July 2014.