OmniVision (NASDAQ:OVTI) Post Higher Profit on Strong Revenue – OVTI, VIMC, TSRA, STM

OmniVision Technologies, Inc (NASDAQ:OVTI) reported earnings moved up in fiscal Q3 as the company’s revenue over doubled.

But, shares of the chip maker tumbled 9.2% to settle at $14 in extended trading session as the company’s fiscal Q4 guidance was sharply lower than forecasts.

The company project EPS of 14 cents to 29 cents per share for the current quarter on revenue of $300 million to $330 million, well lower than recent forecasts of analysts surveyed by Thomson Reuters for 32 cents and $371 million.

OmniVision Technologies declared a profit of $21.3 million or 40 cents per share for the three months period finished Jan 31, high from $111,000 in previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Vimicro International Corporation (ADR) (NASDAQ:VIMC) rose +1.12% to settle at $1.80, Tessera Technologies, Inc. (NASDAQ:TSRA) moved up +1.31% to end at $17.84 while STMicroelectronics N.V. (ADR) (NYSE:STM) dropped -1.73% to finish at $7.95 on Thursday.

OmniVision Technologies, Inc. (NASDAQ:OVTI) on Feb 28, 2013 decreased -0.96% to the closing price of $15.41. The overall volume in the last trading session was 1.55 million shares. Its fifty two weeks range was $11.82 – $21.11. The total market capitalization remained at $830.26 million.

OVTI is ahead of its 52-week low with 30.37% and lagging behind from its 52-week high price with -27.04%. OVTI’s last month’s stock price volatility remained 3.41%. In its share capital OVTI has 53.88 million outstanding shares, among them 53.55 million shares have been floated in market exchange. OVTI’s stock’s institutional ownership remained 77.37% while insider ownership included 0.52%.

The stock price of OVTI is moving down from its 20 days moving average with -0.87% and remote positively from 50 days moving average with 2.73%. OVTI’s current year’s earnings per share experienced a downfall of -46.31% while its current quarter performance remained at 0.33%. Company’s beta coefficient included 1.56. Beta factors measure the amount of market risk associated with market trade.

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