Needham & Company Reiterates a 'Strong Buy' on OmniVision (OVTI); Rare Gem in the Semiconductor Space; Expect a Significant Ramp
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Price: $29.38 --0%
Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Strong Buy' on OmniVision Technologies (NASDAQ: OVTI), PT $45.
Needham analyst says, "We reiterate our rating and price target following a solid April quarter and July guidance that was inline with expectations. We believe the inline guidance reflected some softness in the featurephone market and the timing of new mobile phone roll outs (we think iPhone 5 push out). We expect a significant ramp in the seasonally strong Oct qrt as new 4G phones (Apple, HTC-both N/R) hit the marketplace. OVTI represents a rare gem in the semiconductor space. The company has a leadership position in a multi-year secular market (i.e. proliferation of BSI image sensors), is experiencing rising blended ASPs (a rarity in semis), gross margin expansion, and trading a significant discount to fundamentals. (9x ex-cash). While the shares might experience some weakness post-earnings, we would be aggressive buyers...We maintain our FY12/FY13 estimates of $1.16BN/$3.00 and $1.24BN/$3.37, respectively."
For more ratings news on OmniVision Technologies click here and for the rating history of OmniVision Technologies click here.
Shares of OmniVision Technologies closed at $36.42 yesterday.
Needham analyst says, "We reiterate our rating and price target following a solid April quarter and July guidance that was inline with expectations. We believe the inline guidance reflected some softness in the featurephone market and the timing of new mobile phone roll outs (we think iPhone 5 push out). We expect a significant ramp in the seasonally strong Oct qrt as new 4G phones (Apple, HTC-both N/R) hit the marketplace. OVTI represents a rare gem in the semiconductor space. The company has a leadership position in a multi-year secular market (i.e. proliferation of BSI image sensors), is experiencing rising blended ASPs (a rarity in semis), gross margin expansion, and trading a significant discount to fundamentals. (9x ex-cash). While the shares might experience some weakness post-earnings, we would be aggressive buyers...We maintain our FY12/FY13 estimates of $1.16BN/$3.00 and $1.24BN/$3.37, respectively."
For more ratings news on OmniVision Technologies click here and for the rating history of OmniVision Technologies click here.
Shares of OmniVision Technologies closed at $36.42 yesterday.
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