NEW YORK (TheStreet) -- Shares of Himax Technologies (HIMX) - Get Report were sharply higher in midday trading on Thursday as the company maintained its third-quarter outlook and forecast for the second half of the year.
"In light of the recent unusual volatility of the share price and the abnormally high trading volume, the company highlights its confidence that the overall business prospects remain intact as CEO iterated from the last earnings call," the Taiwan-based semiconductor company said in a statement.
Last month, Himax said it expects earnings per share between 10 cents and 12 cents for the third quarter. Analysts are projecting earnings of 10 cents per share for the period.
Additionally, Credit Suisse said today that the company's long-term story is intact, the Fly reports.
The firm said Himax's 2018 augmented reality device ramp is on track and believes its long-term story on consumer AR glass and 3D sensing for smartphone remains intact. The capacity ramp up also remains on schedule.
Credit Suisse noted that the possible launch of consumer AR glass and 3D sensing for smartphones should bolster Himax's earnings in 2018, the Fly said.
The firm maintained an "outperform" rating and $14 price target on shares.
Late yesterday, Himax stock was initiated with a "buy" rating and $10 price target at Roth Capital.
Roth believes the company's newer products can participate in the growth of IoT device categories including augmented reality and virtual reality headsets, the Fly reported.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, increase in net income and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HIMX