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A number of firms have modified their ratings and price targets on shares of OmniVision Technologies (NASDAQ: OVTI) recently:

  • OmniVision Technologies had its “market perform” rating reaffirmed by analysts at Oppenheimer.
  • OmniVision Technologies had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $27.00 price target on the stock.
  • OmniVision Technologies was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating. They wrote, “We are upgrading OmniVision to Market Perform from Underperform considering the pending acquisition by a Chinese group led by Hua Capital Management for $29 per share. While shares have benefited from the strong offer (since August 14), some concern has been raised regarding potential pushback by the Committee of Foreign Investment in the U.S. (CFIUS) given the composition of the investor group (including a state-owned LLC). As such, there is considerable uncertainty surrounding the deal, and our view of the underlying business trends remains unchanged. Should the transaction not be completed, we would expect multiple contraction given the ongoing mix-shift toward lower-end markets/devices (China + India).”
  • OmniVision Technologies had its price target raised by analysts at Wedbush from $27.00 to $28.00. They now have a “neutral” rating on the stock.
  • OmniVision Technologies had its “outperform” rating reaffirmed by analysts at Zacks. They now have a $33.00 price target on the stock. Zacks‘ analyst wrote, “OmniVision is an OEM of CMOS image sensors and support circuitry used within handsets, notebooks and other mass markets. Its first-quarter earnings beat the Zacks Consensus and guidance was also encouraging. The company has a strong position in the mobile and automotive markets and is also expanding into other areas. We like its product roadmap, growth prospects, mix shift to higher-resolution sensors, strengthening position in the fast-growing Chinese market and management execution and believe that it will be able to deal with the short product life cycles, increased competition, North America challenges and price pressures. We are therefore maintaining Outperform rating on OmniVision shares.”
  • OmniVision Technologies had its price target raised by analysts at Craig Hallum from $23.00 to $29.00. They now have a “hold” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.

OmniVision Technologies, Inc. (NASDAQ:OVTI) opened at 27.49 on Thursday. OmniVision Technologies, Inc. has a 52 week low of $13.55 and a 52 week high of $28.34. The stock’s 50-day moving average is $24.64 and its 200-day moving average is $20.79. The company has a market cap of $1.582 billion and a price-to-earnings ratio of 13.13.

OmniVision Technologies (NASDAQ:OVTI) last posted its quarterly earnings results on Thursday, August 28th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.55 earnings per share. OmniVision Technologies’s revenue was up 22.8% compared to the same quarter last year. Analysts expect that OmniVision Technologies, Inc. will post $1.94 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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