Why Himax Technologies (HIMX) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Himax Technologies, Inc.  (HIMX) are soaring 5.65% to $6.93 today after the supplier of semiconductor products reported its second quarter earnings. 

The company reported second quarter earnings of $24.5 million, or 14 cents per diluted share, up 22% from the second quarter of 2013, and matching the Capital IQ consensus estimate.

Revenue for the quarter fell -5.1% from one year ago to $196.4 million, but beat the consensus estimate of $195.4 million. 

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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 some important positives, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, reasonable valuation levels and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

HIMX ChartHIMX data by YCharts

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