OmniVision Technologies, Inc. (OVTI) Updates Q2 Earnings Guidance
OmniVision Technologies, Inc. (NASDAQ:OVTI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.43-$0.59 for the period, compared to the Thomson Reuters consensus estimate of $0.50, AmericanBankingNews.com reports. The company issued revenue guidance of $360-$390 million, compared to the consensus revenue estimate of $377.94 million.
OmniVision Technologies, Inc. (NASDAQ:OVTI) traded down 0.04% during mid-day trading on Thursday, hitting $27.18. 888,832 shares of the company’s stock traded hands. OmniVision Technologies, Inc. has a one year low of $13.55 and a one year high of $28.34. The stock’s 50-day moving average is $23.96 and its 200-day moving average is $20.40. The company has a market cap of $1.536 billion and a P/E ratio of 15.99.
OmniVision Technologies (NASDAQ:OVTI) last announced its earnings results on Thursday, August 28th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.39. The company had revenue of $406.50 million for the quarter, compared to the consensus estimate of $381.50 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. On average, analysts predict that OmniVision Technologies, Inc. will post $1.62 earnings per share for the current fiscal year.
OVTI has been the subject of a number of recent research reports. Analysts at S&P Equity Research reiterated a buy rating on shares of OmniVision Technologies in a research note on Friday, August 15th. They now have a $8.92 price target on the stock, down previously from $15.07. They noted that the move was a valuation call. On a related note, analysts at Robert W. Baird downgraded shares of OmniVision Technologies from an outperform rating to a neutral rating in a research note on Friday, August 15th. They now have a $27.00 price target on the stock. Finally, analysts at Needham & Company LLC reiterated a fair value rating on shares of OmniVision Technologies in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $21.43.
OmniVision Technologies, Inc (NASDAQ:OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
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