OmniVision Technologies Upgraded to “Outperform” by Zacks (OVTI)
Zacks upgraded shares of OmniVision Technologies (NASDAQ: OVTI) from a neutral rating to an outperform rating in a research report sent to investors on Thursday morning. The firm currently has $19.00 price target on the stock.
Zacks’ analyst wrote, “OmniVision is an OEM of CMOS image sensors and support circuitry used within handsets, notebooks and other mass markets. Second quarter earnings beat the Zacks Consensus by 5 cents. The company has leveraged its superior technology to solidify its position in the handset market and also expand into other areas. We like its product roadmap, growth prospects and management execution and believe that it will be able to deal with the short product life cycles and temporary slowdown in the computing and smartphone markets. We are therefore upgrading OmniVision shares from Neutral to Outperform. “
OmniVision Technologies traded down 3.09% on Thursday, hitting $13.19. OmniVision Technologies has a 1-year low of $11.82 and a 1-year high of $21.12. The stock’s 50-day moving average is currently $15.36. The company has a market cap of $711.2 million and a price-to-earnings ratio of 19.72.
A number of other analysts have also recently weighed in on OVTI. Analysts at Pacific Crest initiated coverage on shares of OmniVision Technologies in a research note to investors on Tuesday, January 22nd. They set a sector perform rating on the stock. Analysts at Robert W. Baird reiterated an outperform rating on shares of OmniVision Technologies in a research note to investors on Friday, January 4th. They now have a $23.00 price target on the stock.
Six equities research analysts have rated the stock with a buy rating, three have assigned an overweight rating, and four have assigned a hold rating to the stock. The company has an average rating of overweight and an average price target of $21.05.
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