OVTI Issues Inline Guidance
Analyst Bobby Burleson of Canaccord Adams maintains his "hold" rating on OmniVision Technologies (NASDAQ: OVTI), while reducing his estimates for the company. The target price for OVTI is set to $15.
OmniVision Technologies reported its FQ3 results marginally ahead of the consensus. OVTI witnessed weak seasonality during FQ3 and the trend is likely to continue during the April quarter, the analyst says. The company’s April quarter guidance is marginally short of the consensus.
“The company continues to see strength from Asia as sales towards higher resolutions are beginning to pick up,” the analyst adds. Canaccord Adams has reduced its EPS estimate for 2010 from $0.96 to $0.82.
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Posted-In: Bobby Burleson Canaccord AdamsAnalyst Color Analyst Ratings
