Why Shares of Himax Technologies Fell 17.9% In July
Taiwanese semiconductor company Himax Technologies (NASDAQ: HIMX) fell 17.9% in July. That doesn't tell the whole story, though. The designer of display drivers is having a fantastic showing in 2021. The stock was up 85% year to date and 414% since the start of 2020 in spite of the cool off in July, slightly retreating from all-time highs notched for the tech stock in late June.
A boom in global demand for consumer electronics is behind Himax's epic rise since the start of the pandemic. Himax is a leading developer of the circuitry that controls digital screens -- everything from smartphones to TVs to infotainment displays in cars. A global shortage of chips has put a slight damper on Himax's financial results as it has the rest of the semiconductor industry. Nevertheless, households and businesses have been scrambling to purchase new devices as COVID-19 has reshaped daily life and centered it on technology.
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Source Fool.com
