No one should be surprised with the current move. The stock pays a nice dividend which is actually unbelievable if you consider how the company is growing- Earnings last year were 0.30, this year 0.41, projected next year is currently 0.59 (and expect this estimate to be raised). So forward PE at 14 is much less than earnings growth with a 4% dividend.
So it's not surprising that HIMX is at 8.60. It is surprising that it isn't at 10,