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

NEW YORK ( TheStreet) -- Shares of OmniVision Technologies (Nasdaq: OVTI) were gapping down Friday morning with an open price 11% lower than Thursday's closing price. The stock closed at $16.18 Thursday and opened today's trading at $14.40.

The average volume for OmniVision has been 2.7 million shares per day over the past 30 days. OmniVision has a market cap of $795.3 million and is part of the technology sector and electronics industry. Shares are up 24.2% 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 9.5, equal to the average electronics industry P/E ratio 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 and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and poor profit margins. You can view the full OmniVision Ratings Report.

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