OmniVision Stock Gaps Up On Today's Open (OVTI)

NEW YORK ( TheStreet) -- Shares of OmniVision Technologies (Nasdaq: OVTI) were gapping up Friday morning with an open price 12.9% higher than Thursday's closing price. The stock closed at $16.08 Thursday and opened today's trading at $18.16.

The average volume for OmniVision has been 2.7 million shares per day over the past 30 days. OmniVision has a market cap of $811.4 million and is part of the technology sector and electronics industry. Shares are up 31.4% year to date as of the close of trading on Thursday.

OmniVision Technologies, Inc. engages in designing, developing, and marketing semiconductor image-sensor devices worldwide. The company has a P/E ratio of 6.9, above the average electronics industry P/E ratio of six and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates OmniVision as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins. You can view the full OmniVision Ratings Report.

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