Canaccord Genuity Reiterates a 'Buy' on OmniVision Technologies (OVTI); Resurfacing as a Contender
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Price: $14.33 -1.24%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade OVTI Now!
Canaccord Genuity reiterates a 'Buy' on OmniVision Technologies (NASDAQ: OVTI) price target of $20.00.
Analyst, Bobby Burleson, said, "While elevated production costs and taxes constrain earnings power near term, OVTI's strong revenue guide means the company remains a contender at the high end. We reiterate a BUY as valuation remains attractive and cost improvements should follow ramping revenue in out quarters."
"Management guided Q3/C12 to a significant revenue uptick (up 44% Q/Q at the mid-point), with revenues expected to be $355-390M. EPS is expected to be $0.21-0.37, below consensus at the mid-point ($0.29) driven by continued BSI-2 gross margin pressures. This compared to consensus estimates of $268.6M/$0.33 and our estimate of $270M/$0.31."
For an analyst ratings summary and ratings history on OmniVision Technologies click here. For more ratings news on OmniVision Technologies click here.
Shares of OmniVision Technologies closed at $15.91 yesterday, with a 52 week range of $10.15-$21.12.
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Analyst, Bobby Burleson, said, "While elevated production costs and taxes constrain earnings power near term, OVTI's strong revenue guide means the company remains a contender at the high end. We reiterate a BUY as valuation remains attractive and cost improvements should follow ramping revenue in out quarters."
"Management guided Q3/C12 to a significant revenue uptick (up 44% Q/Q at the mid-point), with revenues expected to be $355-390M. EPS is expected to be $0.21-0.37, below consensus at the mid-point ($0.29) driven by continued BSI-2 gross margin pressures. This compared to consensus estimates of $268.6M/$0.33 and our estimate of $270M/$0.31."
For an analyst ratings summary and ratings history on OmniVision Technologies click here. For more ratings news on OmniVision Technologies click here.
Shares of OmniVision Technologies closed at $15.91 yesterday, with a 52 week range of $10.15-$21.12.
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