NEW YORK (TheStreet) -- Shares of Himax Technologies (HIMX) - Get Report were jumping 7.44% to $9.53 late Friday morning after the company posted better-than-expected results for the 2016 second quarter yesterday.
Before yesterday's opening bell, the Taiwan-based fabless semiconductor company said it had adjusted earnings of 12 cents per share. Analysts were looking for earnings of 10 cents per share.
Revenue for the quarter was $201.1 million, surpassing Wall Street's estimates of $198.6 million.
For the third quarter, Himax forecasts earnings per share between 10 cents and 12 cents. Analysts are expecting earnings of 10 cents per share.
Oppenheimer maintained its "perform" rating on shares following the results.
"Large-sized driver IC (integrated circuits) continues to benefit from growing capacity in China while small/mid driver IC growth was driven by strong performance of its Chinese smartphone customers," the firm wrote in a note this morning.
But Oppenheimer has a more conservative outlook for the near-term potential of augmented reality, as end market demand for AR headsets still appears "lukewarm."
"Combined with concern over the sustainability of driver IC growth (primarily driver IC for smartphones), we choose to stay sidelined for now," the firm noted.