Himax Technologies Stock Continues to Climb Following Qualcomm Collaboration

Himax Technologies, Inc. (NASDAQ:HIMX) and Qualcomm Incorporated (NASDAQ:QCOM) will work together on a 3D depth sensing camera system

SmallCapPower | August 31, 2017: Himax Technologies, Inc. (NASDAQ: HIMX) and Qualcomm Incorporated (NASDAQ: QCOM), along with its subsidiary Qualcomm Technologies, Inc., Wednesday announced a collaboration to accelerate the development and commercialization of a high resolution, low power active 3D depth sensing camera system to enable computer vision capabilities for use cases such as biometric face authentication, 3D reconstruction, and scene perception for mobile, IoT, surveillance, automotive and AR/VR.

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Shares of Himax Technologies jumped 6% to close at $9.25 on Wednesday and have risen another 7% in early Thursday trading.

The collaboration will enable computer vision cameras using the 3D sensing technology from Himax Technologies, which would result in improving revenues estimates in the future. The mass production is expected to start in Q1 next year.

The collaboration brings together Qualcomm Spectra™ technologies and expertise in computer vision architecture and algorithm with Himax’s complementary technologies in wafer optics, sensing, driver, and module integration capabilities to deliver a fully integrated SLiM™ (Structured Light Module) 3D solution.

Jordan Wu, President and Chief Executive Officer of Himax Technologies said, “Our 3D sensing solution will be a game changing technology for smartphones, where we will enable the Android ecosystem to provide the next generation of mobile user experience.”

Himax Technologies stock is trading at a TTM price to sales multiple of 2.18x and price to book multiple of 3.17x. Given the anticipated rise in revenues, we see good upside potential in its share price.

Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in the company mentioned above.

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