Himax Technologies (HIMX) Stock Popping on Revenue Beat

Himax Technologies (HIMX) stock is rising on heavy volume trading on Thursday after the company reported its 2015 third quarter earnings results.
By Amanda Albright ,

NEW YORK (TheStreet) -- Himax Technologies (HIMX) - Get Report stock is up by 1.02% to $6.17 on heavy trading volume on Thursday morning, after the company reported its 2015 third quarter earnings results.

Before the market open on Thursday, the Taiwanese semiconductor solution supplier reported earnings of 1 cent per share.

Revenue declined to $165.6 million, down from $222.3 million in the 2014 third quarter.

Analysts were expecting the company to report earnings of 1 cent per share on revenue of $156.79 million. 

"Areas of sales that exceeded guidance is aligned to our continued success in gaining market share in China, and rush orders that emerged in later part of the quarter," CEO Jordan Wu said in a statement. "While still maneuvering carefully in a market with low visibility, we remain optimistic about our active and ongoing design-in activities with leading customers in both driver IC and non-driver products."

So far today, 3.17 million shares of Himax have traded, versus its 30-day average of 1.96 million shares.

Separately, TheStreet Ratings team rates HIMAX TECHNOLOGIES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

We rate HIMAX TECHNOLOGIES INC (HIMX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: HIMX

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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