Insider Selling: OmniVision Technologies President Unloads 20,288 Shares of Stock (OVTI)
OmniVision Technologies (NASDAQ:OVTI) President Raymond Wu unloaded 20,288 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $22.67, for a total transaction of $459,928.96. Following the sale, the president now directly owns 666 shares of the company’s stock, valued at approximately $15,098. The transaction was disclosed in a filing with the SEC, which is available at this link.
OVTI has been the subject of a number of recent research reports. Analysts at Stephens downgraded shares of OmniVision Technologies from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 25th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of OmniVision Technologies in a research note on Tuesday, June 17th. They now have a $26.00 price target on the stock, up previously from $24.00. Finally, 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.44.
Shares of OmniVision Technologies (NASDAQ:OVTI) traded up 3.93% on Thursday, hitting $22.46. 826,813 shares of the company’s stock traded hands. OmniVision Technologies has a 1-year low of $13.55 and a 1-year high of $24.20. The stock has a 50-day moving average of $21.72 and a 200-day moving average of $18.. The company has a market cap of $1.260 billion and a price-to-earnings ratio of 12.71.
OmniVision Technologies (NASDAQ:OVTI) last announced its earnings results 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 $1.55 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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