Insider Selling: OmniVision Technologies Insider Unloads 7,002 Shares of Stock (OVTI)
OmniVision Technologies (NASDAQ:OVTI) Insider Howard E. Rhodes sold 7,002 shares of OmniVision Technologies stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $22.55, for a total value of $157,895.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
OmniVision Technologies (NASDAQ:OVTI) traded up 0.66% during mid-day trading on Friday, hitting $22.71. 1,409,742 shares of the company’s stock traded hands. OmniVision Technologies has a one year low of $13.55 and a one year high of $23.08. The stock’s 50-day moving average is $19.79 and its 200-day moving average is $17.25. The company has a market cap of $1.274 billion and a P/E ratio of 13.27.
OmniVision Technologies (NASDAQ:OVTI) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that OmniVision Technologies will post $1.59 EPS for the current fiscal year.
A number of analysts have recently weighed in on OVTI shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of OmniVision Technologies from $22.00 to $24.00 in a research note on Friday, May 30th. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of OmniVision Technologies in a research note on Friday, May 30th. They now have a $24.00 price target on the stock. Finally, analysts at ISI Group raised their price target on shares of OmniVision Technologies to $23.00 in a research note on Friday, May 30th. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. OmniVision Technologies currently has a consensus rating of “Hold” and an average target price of $22.26.
OmniVision Technologies, Inc (NASDAQ:OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.