Canaccord Genuity Reiterates a 'Buy' on OmniVision Technologies (OVTI); Playing Healthy Apple (AAPL) Supply Chain at Compelling Valuation
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Price: $29.38 --0%
Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity reiterates a 'Buy' on OmniVision Technologies (NASDAQ: OVTI) price target of $38.00.
Canaccord analyst, Bobby Burleson, says, "We see attractive risk/reward ahead of quarterly report, given likely in-line results and current depressed valuation (8x C2012E EPS). Checks show strong image sensor production in CQ3 that should be followed by growth in CQ4, in stark contrast to weak production trends generally for fabless semiconductors, with the exception of other Apple-weighted suppliers. This build is likely for new smartphone introductions in H2/11 by OVTI customers including Apple (Nasdaq: AAPL), where we continue to expect OVTI to be the dominant supplier of image sensors into iPhone4S/5."
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 $23.83 yesterday.
Canaccord analyst, Bobby Burleson, says, "We see attractive risk/reward ahead of quarterly report, given likely in-line results and current depressed valuation (8x C2012E EPS). Checks show strong image sensor production in CQ3 that should be followed by growth in CQ4, in stark contrast to weak production trends generally for fabless semiconductors, with the exception of other Apple-weighted suppliers. This build is likely for new smartphone introductions in H2/11 by OVTI customers including Apple (Nasdaq: AAPL), where we continue to expect OVTI to be the dominant supplier of image sensors into iPhone4S/5."
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 $23.83 yesterday.
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