UPDATE: Baird Upgrades OmniVision Technologies (OVTI) to Outperform

(Updated - March 6, 2012 10:33 AM EST)

Baird upgraded OmniVision Technologies (NASDAQ: OVTI) from Neutral to Outperform with a price target of $23 (up from $19).

The firm said OmniVision camera sensors will be used Apple's (Nasdaq: AAPL) new iPad, which is expected to be announced on Wednesday March 7th. They will be supplying a 5 megapixel sensor for the rear camera and a 1 megapixel sensor for the front camera, the firm stated. In addition, OmniVision could supply sensors for a still-speculated iPad mini.

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 $15.83 yesterday.

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