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Google Glass Supplier Himax (HIMX) Remains a Buy

Tickers in this article: GOOG HIMX

Editor's Note:  Himax is a Trifecta Stocks holding.  If you own, or are thinking of owning HIMX, you HAVE to sign up for the FREE webinar hosted by TheStreet's fundamental expert Bryan Ashenberg and technical expert Bob Lang.  Sign up now! 

NEW YORK (TheStreet) -- Semiconductor company Himax is still rated a buy despite recent share price volatility. 

"The stock's volatility in a choppy environment should be expected as it is a high beta, highly speculative name that will tend to bounce around with investor sentiment," wrote Bryan Ashenberg and Bob Lang in their Trifecta Stocks article on Wednesday.

The company managed to partially mitigate Tuesday losses, gaining 1.3% to $10.21 by Wednesday close. Himax was among the high-momentum companies hammered by investor worry over political uncertainty in Washington earlier in the week.

The key driver to Himax's success is its development and manufacturing of liquid crystal on silicon (LCoS) microdisplays, 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 microdisplays once Google Glass launches.

Ashenberg and Lang anticipate 60% earnings growth for fiscal 2014 and 22% in 2015. Year to date, Himax shares have gained 325.4%.

Remember:  Himax is a Trifecta Stocks holding.  If you own, or are thinking of owning HIMX, you HAVE to sign up for the FREE webinar hosted by TheStreet's fundamental expert Bryan Ashenberg and technical expert Bob Lang.  Sign up now!

Written by Keris Alison Lahiff.