Canaccord Genuity Maintains a 'Buy' on OmniVision Technologies (OVTI); Macro Begins to Weigh; Lower PT
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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: 5 | New: 26
Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on OmniVision Technologies (NASDAQ: OVTI) price target lowered from $18 to $12.
Canaccord analyst, Bobby Burleson, said, "OVTI delivered upside last night, but guided decidedly below consensus for January as customer orders softened further. We believe the company is attractively valued trading at less than 1.5x cash, while company-specific issues appear to be less of a factor in guidance this time around. HDD shortages are impacting PC-related orders, while Thailand is also negatively impacting select handset OEMs. In our view, any recovery in revenue and margins in the April Q onward should move the stock higher."
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.
Canaccord analyst, Bobby Burleson, said, "OVTI delivered upside last night, but guided decidedly below consensus for January as customer orders softened further. We believe the company is attractively valued trading at less than 1.5x cash, while company-specific issues appear to be less of a factor in guidance this time around. HDD shortages are impacting PC-related orders, while Thailand is also negatively impacting select handset OEMs. In our view, any recovery in revenue and margins in the April Q onward should move the stock higher."
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.
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