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OmniVision (OVTI) Slammed as iPhone Socket Supplier Status at Risk

July 6, 2011 9:36 AM EDT
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Price: $29.38 --0%

Rating Summary:
    2 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 2 | New: 35
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OmniVision (Nasdaq: OVTI) shares are tumbling Wednesday morning following some bearish comments from an analyst at FBR Capital.

FBR warns OmbiVision's status as an Apple (Nasdaq: AAPL) iPhone socket supplier might be at risk. According to the analyst, OmniVision is having issues with its new CMOS sensor. Due to this delay, OmniVision may have missed Apple's commercial product deadline, possibly losing lead supplier status to rival Sony (NYSE: SNE).

OmniVision shares are down over 8 percent to $31.90 just minutes after the opening bell.


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