NEW YORK (TheStreet) -- OmniVision Technologies
(OVTI - Get Report) was up 3% to $27.99 in after-hours on Thursday after beating analysts' estimates for earnings and revenue in the fiscal first quarter.
For the first quarter, the company reported earnings of 91 cents a share, beating the Capital IQ Consensus Estimate of 53 cents a share by 38 cents. Revenue grew 8.8% year-over-year to $406.5 million for the quarter. Analysts expected revenue of $381.5 million for the quarter.
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TheStreet Ratings team rates OMNIVISION TECHNOLOGIES INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate OMNIVISION TECHNOLOGIES INC (OVTI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins." You can view the full analysis from the report here:
OVTI Ratings Report
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