NEW YORK (TheStreet) -- Himax Technologies (HIMX) shares are up 1.8% to $9.44 on Monday after analysts at Craig-Hallum upgraded the stock to "buy" from "hold" while boosting its price target to $12 from $5.
Himax shares are trading on heavy volume in early trading today with 2.35 million shares already changing hands.
Last week the stock gained after analysts at Bank of America raised their shipment estimates for the company's LCOS micro-display through 2016 and said that it expects Google (GOOGL) to take a larger stake in the company as Google ramps up production of its Google Glass products STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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 several positive factors, 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 impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."