OmniVision Technologies (OVTI) Posts Quarterly Results
OmniVision Technologies (NASDAQ:OVTI) issued its quarterly earnings data on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.39, Analyst RN reports. 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. OmniVision Technologies updated its Q2 guidance to $0.43-$0.59 EPS.
Shares of OmniVision Technologies (NASDAQ:OVTI) traded down 0.04% during mid-day trading on Thursday, hitting $27.18. 880,304 shares of the company’s stock traded hands. OmniVision Technologies has a 1-year low of $13.55 and a 1-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.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the 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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