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Himax Technologies (HIMX) The key driver to Himax's success is its development and manufacturing of liquid crystal on silicon (LCoS) micro-displays, a component of wearable technology.
In July, Google bought a 6.3% stake in Himax's display subsidiary to ramp production on LCoS chips and micro-displays once Google Glass launches. It also has the option to buy up to 14.8% in Himax within one year of the deals closing date.
The stock is high Beta and speculative, but not that expensive comparable to other momentum stocks. Himax is looking for 2013 earnings of $0.39 per share and estimates call for $0.63 in 2014 (60% earnings growth). With a trailing eps of 25xs and a forward of 13.9xs. Price to sales of 1.89 and a PEG of 0.75. It has $0.79 per share in cash and a dividend yield of 2.9%. ITZ 12 month PT for HIMX $16.
The stock is up 280% YTD, it went through an Inverted H&S mid-year and now is nearing the measured move of a Head & Shoulders. ITZ suggests entering under $8.00 or nibbling around 100-ema
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