OmniVision Technologies (OVTI) Message Board

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Technology Stocks : OmniVision Technologies (OVTI)

OVTI 29.38

0.0%

Jan 29 3:00 PM EDT

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From: Bill Wolf	6/28/2011 10:04:44 AM
	of 2273

OVTI: Canaccord Says Buy; Good To Be An Apple Supplier By Tiernan Ray Canaccord Genuity analyst Bobby Burleson this morning raised his rating on OmniVision Technologies (OVTI) to a Buy from Hold, and raised his price target to $38 from $33, based on supply chain “checks” showing a strong “ramp” in manufacturing of the company’s image sensors. OmniVision is believed to be one of the suppliers for the camera parts to Apple’s (AAPL) next iPhone. Burleson raised his estimate for the full year to $1.135 billion in revenue and $2.99 in EPS, from a prior $1.127 billion and $2.97. “According to our latest round of channel checks, momentum persists for Apple’s component suppliers, with healthy orders delivered to assembly and test houses for Q3,” writes Burleson. “This contrasts with a general slowdown across the broader semiconductor industry, where a number of semiconductor suppliers into PCs and feature phones have been cutting orders with subcontractors.” Burleson expects transition to the higher-res parts should boost average selling prices for OmniVision. His price target is a 12 times multiple of the $3.17 EPS he models for 2012. OmniVision shares today are up $1.95, or 6%, at $32.72. Copyright 2011 Dow Jones & Company,

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