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 yesterday and opened today's trading at $14.40.
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. Get more investment ideas from our investment research center.