This article originally appeared on Iknowfirst.com

Himax Technologies, Inc. is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products. Additionally, the Company designs and provides controllers for touch sensor displays, Liquid crystal on silicon micro-displays used in palm-size projectors and head-mounted displays, light-emitting diode driver ICs, power management ICs, scaler products for monitors and projectors, video processing IC solutions and silicon IPs.

I Know First wrote a Seeking Alpha article about Himax on Aug 22nd, claiming that China’s booming smartphone market. since this forecast the stock price has increased 20%.

(Figure 1: The Original HIMX forecast From 18th Aug ’15) 

The demand for smartphones and the rise in sales of smart televisions has helped build the revenue flow for the semiconductor giant, Himax Technologies (NASDAQ:HIMX). The company was established in 2001 with its headquarters based in Tainan, Taiwan, and CEO Jordan Wu has helped lead the company to becoming a worldwide market leader in this field.

Lately, the investment firm Merrill Lynch raised its target price from $8.50 to $10.75. Their analysts said that Himax already has a 40% market share in China, and can increase this number. This is because the Chinese government plans to ramp up localization efforts on TFT panels, along with the overall content growth in TV, smartphone, and auto spaces.

The company intends to increase its Chinese market share to 50-60%, by doubling its TFT production capacity. Himax’s recent design win at Xiaomi expands content opportunities for fiscal year 2016, which in turn brings the company closer to its targets pertaining to the Chinese market.