Himax Technologies Spikes, Has 'Significant Early Lead' in Hardware And Display for Virtual Reality Trend
Shares of Himax Technologies (NASDAQ: HIMX) have skyrocketed 4.3 percent higher to $12.39 on some bullish comments from Northland following Facebook's purchase of Oculus.
The stock had been declining the past three weeks from its all-time high of $16.15 and was downgraded on Tuesday by Bank of America.
The BofA downgrade was due to fears that liquid crystal on silicon progress would be slow. The technology is expected to be part of Google's Glass, which may not materialize in 2014, said Tom Sepenzis, analyst at Northland.
However, Sepenzis said Himax's liquid crystal on silicon technology has other opportunities besides Google Glass, including the Oculus VR Rift virtual reality headset, where the company has a “significant early lead.”
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