Himax Technologies (HIMX) Stock Gains After Receiving Taiwan Outstanding Photonics Product Award

NEW YORK (TheStreet) -- Shares of Himax Technologies (HIMX) were gaining 5.4% to $8.56 Tuesday after the semiconductor announced that its Liquid Crystal on Silicon (LCoS) microdisplay won a Taiwan Outstanding Photonics Product Award from the Photonics Industry and Technology Development Association.

Himax's 0.22-inch Front-Lit LCoS module won the Taiwan Outstanding Photonics Product Award.

The product integrates an LED illumination system and a polarization beam splitter. The company says the module "delivers rich colors, high contrast, and outstanding reflectivity and is therefore widely seen by many in the industry as the microdisplay of choice for head-mounted devices."

"We are honored to win this prestigious award and we want to thank the Photonics Industry and Technology Development Association for it," President and CEO Jordan Wu said. "Our team of engineers are working with some of the most innovative and reputable companies in the world who use our Front-Lit LCoS modules for their next generation head mounted display products."

About 2.8 million shares of Himax Technologies were traded by 10:07 a.m. Tuesday, compared to the company's average trading volume of about 2.8 million shares a day.

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 largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

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