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Jim Cramer's Stop Trading: OmniVision's Buyout Offer Puts Light on Undervalued Rivals

NEW YORK (TheStreet) -- OmniVision Technologies (OVTI - Get Report) is a “pretty good company that makes the camera on your cellphone,” TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, explained on CNBC’s “Cramer’s Stop Trading” segment. 

The stock, at $28,  is up almost 14% Thursday following a buyout offer for $29 per share in cash from Hua Capital. 

OmniVision has great technology but has continually disappointed investors and analysts with its earnings reports, Cramer said. 

Read More: 10 Stocks Carl Icahn Loves in 2014

Perhaps other tech companies such as Skyworks Solutions (SWKS), Cirrus Logic (CRUS), RF Micro Devices (RFMD), and GT Advanced Technology (GTAT), could also be undervalued, Cramer sais. 

He advised investors in OmniVision Technologies to consider taking profits now since the takeover offer is not guaranteed to be accepted, Cramer concluded. 

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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