Needham & Company Reiterates a 'Hold' on OmniVision Technologies (OVTI); Guidance Well Below Expectations; A Tough Road Ahead
Tweet
Share
E-mailGet Alerts OVTI Hot Sheet
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
Join SI Premium – FREE
Needham & Company reiterates a 'Hold' on OmniVision Technologies (NASDAQ: OVTI).
Needham analyst says, "We reiterate our Hold rating on OVTI as the company reported inline F2Q12 (Oct) results, but provided F3Q12 (Jan)
guidance well below expectations. OVTI saw unexpected order cut backs across several of its major handset customers and saw its notebook business decline due to lower demand and the impact from the Thailand flooding. We continue to see further degradation in demand entering the January quarter."
"Our FY12 and FY13 revenue and Non-GAAP estimates move to $829.1MM/$1.40 (vs. $877.5MM/$1.35) and $780.0MM/$0.70 (vs. $880.0MM/$1.00), respectively."
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 $11.19 yesterday.
Needham analyst says, "We reiterate our Hold rating on OVTI as the company reported inline F2Q12 (Oct) results, but provided F3Q12 (Jan)
guidance well below expectations. OVTI saw unexpected order cut backs across several of its major handset customers and saw its notebook business decline due to lower demand and the impact from the Thailand flooding. We continue to see further degradation in demand entering the January quarter."
"Our FY12 and FY13 revenue and Non-GAAP estimates move to $829.1MM/$1.40 (vs. $877.5MM/$1.35) and $780.0MM/$0.70 (vs. $880.0MM/$1.00), respectively."
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 $11.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Nu Holdings (Nubank) (NU) PT Raised to $19 at Needham
- TSS Inc (TSSI) PT Lowered to $13 at Needham
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
