Himax (HIMX) Jumps on Google Glass Production Rumors

Updated from 5:20 p.m. EDT to include information about Google's Explorer program in the third paragraph.

NEW YORK (TheStreet) -- Himax Technologies (HIMX), a leading supplier micro-display technology used in Google  (GOOG) Glass, rose as much as 4.3% a share in Monday trading before paring gains to close 1% higher at $9.64. The micro-display developer was boosted by a story in the Financial Times that Google is expanding its production of the optical head-mounted display product.

The Financial Times reported that Google is planning plans to boost production of its Google Glass during the holiday period, though a full commercial launch isn't slated until mid-2014 at the earliest. Currently, only 10,000 Glass models have been distributed to developers and reviewers.

Google confirmed to TheStreet that the company is increasing production of Glass to facilitate an expansion of its 'Explorer' program. Those who received one of the original 10,000 models will have the ability to refer three friends to purchase Glass.

"Our goal is to continue to expand the Explorer program ahead of a wider consumer launch in 2014," explained a Google spokesperson. 

TheStreet's fundamental analysis expert Bryan Ashenberg had this to say about Himax:

"Himax is an exciting play on what is sure to become the market's next technological infatuation, wearable computers. We have heard rumors for months now that the next generation Xbox may come equipped with two wearable displays per console. Himax believes it controls greater than 75% of the LCoS market share, making it the likely supplier to Microsoft.That is why we have the stock as a pick within our Trifecta Stocks portfolio which only contains stocks we consider to be the best of the best. At Trifecta Stocks we strive to find only the top 1% of all the stocks available on the U.S. stock exchanges and have deemed Himax one of those. You can read more about this stock pick and our other picks by taking a 14-day free trial to the service here: Try Trifecta Stocks."

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