NEW YORK (TheStreet) --Shares of OmniVision Technologies (OVTI) were falling 3.3% to $25.90 after-hours Tuesday after the chipmaker guided below analysts' estimates for revenue in the fiscal third quarter.
The company said it expects revenue of $275 million to $305 million for the fiscal third quarter, below analysts' estimates of $331.7 million for the quarter. The chipmaker expects to report earnings of 22 cents to 38 cents a share in the third quarter, compared to analysts' estimates of 33 cents a share.
OmniVision reported earnings of 60 cents a share for the fiscal second quarter, beating analysts' estimates of 51 cents a share. Revenue fell 0.8% year over year to $394 million in the quarter, above analysts' estimates of $377.9 million.
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, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. 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