JPMorgan Chase & Co. Increases OmniVision Technologies Price Target to $24.00 (OVTI)
Equities research analysts at JPMorgan Chase & Co. raised their price objective on shares of OmniVision Technologies (NASDAQ:OVTI) from $22.00 to $24.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 19.17% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of OmniVision Technologies in a research note on Friday. They now have a $24.00 price target on the stock. Separately, analysts at ISI Group raised their price target on shares of OmniVision Technologies to $23.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at Northland Securities upgraded shares of OmniVision Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $28.00 price target on the stock, up previously from $21.00. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $22.26.
Shares of OmniVision Technologies (NASDAQ:OVTI) traded up 12.21% during mid-day trading on Friday, hitting $22.60. 7,539,583 shares of the company’s stock traded hands. OmniVision Technologies has a 1-year low of $13.55 and a 1-year high of $20.48. The stock has a 50-day moving average of $19.20 and a 200-day moving average of $16.98. The company has a market cap of $1.266 billion and a price-to-earnings ratio of 12.67.
OmniVision Technologies (NASDAQ:OVTI) last released its earnings data on Thursday, May 29th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.13. The company had revenue of $331.00 million for the quarter, compared to the consensus estimate of $292.11 million. During the same quarter last year, the company posted $0.31 earnings per share. OmniVision Technologies’s revenue was down 1.5% compared to the same quarter last year. Analysts expect that OmniVision Technologies will post $1.33 EPS for the current fiscal year.
OmniVision Technologies, Inc (NASDAQ:OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
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