OmniVision Technologies (NASDAQ: OVTI) was upgraded by equities researchers at JPMorgan Chase (NYSE: JPM) from a “neutral” rating to an “overweight” rating in a report issued on Thursday.
The analysts wrote, “With OVTI down 17.5% in May (S&P 500 down 6.1%), we think riskreward is tilting favorable and we are becoming more constructive regarding OmniVision’s prospect of winning back the high-resolution CIS slot opportunity on the next-generation Apple iPhone, widely expected to be introduced in 2H12. OVTI’s BSI-2 products are now shipping in volume, and we believe 65nm wafer starts at TSMC are ramping in order to meet OVTI’s 8MPx product needs (e.g. the OV8850). The Digitimes report regarding related growth prospects at King Yuan and Tong Hsing rings true to us.”
Shares of OmniVision Technologies opened at 15.20 on Thursday. OmniVision Technologies has a one year low of $10.15 and a one year high of $35.09. The company has a market cap of $795.3 million and a P/E ratio of 9.48.
OVTI has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of OmniVision Technologies in a research note to investors on Wednesday, April 11st.
OmniVision Technologies, Inc. (OmniVision), incorporated in May 1995, designs, develops and markets semiconductor image-sensor devices.
