Canaccord Genuity Reaffirms Buy Rating on OmniVision Technologies (OVTI)

By admin | 6 years ago

OmniVision Technologies (NASDAQ: OVTI)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a report issued on Friday.

Shares of OmniVision Technologies traded down 1.91% during mid-day trading on Friday, hitting $13.1395. OmniVision Technologies has a 52 week low of $10.15 and a 52 week high of $35.09. The company has a market cap of $688.0 million and a P/E ratio of 11.85.

OmniVision Technologies last announced its earnings results on Thursday, May 31st. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, analysts predict that OmniVision Technologies will post $0.34 earnings per share next quarter.

A number of other firms have also recently commented on OVTI. Analysts at JPMorgan Chase (NYSE: JPM) upgraded shares of OmniVision Technologies from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday. Separately, analysts at Wedbush cut their price target on shares of OmniVision Technologies from $16.00 to $15.00 in a research note to investors on Tuesday, May 29th. Finally, analysts at Northland Securities initiated coverage on shares of OmniVision Technologies in a research note to investors on Wednesday, April 25th. They set an “outperform” rating and a $25.00 price target on the stock.

OmniVision Technologies, Inc. (OmniVision), incorporated in May 1995, designs, develops and markets semiconductor image-sensor devices.

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