Yesterday, 4:22 PM
Wed, Aug. 26, 5:35 PM
Thu, May 28, 4:22 PM
Wed, May 27, 5:35 PM
Fri, Feb. 27, 1:31 PM
- In addition to beating FQ3 EPS estimates (while posting in-line revenue), OmniVision (OVTI -0.2%) has guided for FQ4 revenue of $265M-$295M and EPS of $0.15-$0.31, above a consensus of $263M and $0.12.
- Strong numbers were expected in light of Apple's big Q4 iPhone sales - both OmniVision and Sony supply image sensors to Apple - and growing demand from Xiaomi and other Chinese Android OEMs.
- On the CC (transcript), CEO Shaw Hong stated mobile sales are expected to drop Q/Q in FQ4 (in-line with seasonality), but added automotive sales (boosted by design wins for rear camera systems) is expected to grow. He also declared OmniVision's new PureCel-S image sensors "open new possibilities for us to further improve our camera performance, processing speed, and allows for even thinner form factor for consumer devices."
- FQ3 gross margin was 22.1%, up 10 bps Q/Q and 450 bps Y/Y. GAAP operating expenses rose 7% Y/Y to $55M. OmniVision ended FQ3 with $512.8M in cash - that's equal to ~1/3 of its current market cap.
- FQ3 results, PR
Thu, Feb. 26, 4:22 PM
Wed, Feb. 25, 5:35 PM
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Dec. 2, 2014, 4:47 PM
- Though it beat FQ2 estimates, OmniVision (NASDAQ:OVTI) is guiding for FQ3 revenue of $275M-$305M, below a $331.7M consensus. EPS guidance ($0.22-$0.38) is stronger, but still below a $0.33 consensus at the midpoint.
- Gross margin rose to 22% in FQ2 from 21.7% in FQ1 and 18.8% a year earlier; OmniVision attributes the gains to a mix shift towards newer products, and the sales of previously written-down inventory.
- GAAP opex +14% Y/Y to $56.7M, with R&D accounting for $34.2M. The cash balance rose by $1M Q/Q to $525.2M (equal to 38% of OmniVision' market cap).
- "Our mobile phone and automotive products continue to be the drivers behind our strong results this quarter," says CEO Shaw Hong - strong iPhone-related orders likely helped. "We are pleased with our execution in China, and with the emergence of India as a key geography for us."
- FQ2 results, PR
Dec. 2, 2014, 4:24 PM
Dec. 1, 2014, 5:35 PM
Nov. 26, 2014, 2:52 PM
- Chip stocks are outperforming after Analog Devices (ADI +5.2%) beat FQ4 estimates and offered in-line FQ1 guidance. The Philadelphia Semi Index (SOXX +1.9%) has made new highs.
- Notable gainers include many analog/mixed-signal and telecom IC firms: TXN +3%. LLTC +2.7%. SMTC +3.1%. ISIL +3.3%. SWKS +3.7%. AVGO +2.9%. OVTI +3.2%. FSL +3.1%. EZCH +2.5%. XLNX +2.3%. ALTR +2.1%. MX +4.3%. PMCS +2.7%. BRCM +2%.
- On its CC (transcript), ADI noted its telecom equipment chip sales are holding up well in spite of weak capex, aided by the fact its dollar content for 4G base stations is "at least 20% to 30% better" than for 3G base stations. The company also mentioned its lead times were stable in FQ4.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Aug. 28, 2014, 5:21 PM
- OmniVision (NASDAQ:OVTI) is guiding for FQ2 revenue of $360M-$390M and EPS of $0.43-$0.59, in-line with a consensus of $374.5M and $0.49.
- FQ1 gross margin was 21.7%, up from 20.1% in FQ4 and 17.4% a year ago. GAAP opex +17% Y/Y to $56.3M. Cash/short-term investments rose by $73.2M Q/Q to $524.2M (compares with a market cap of $1.6B).
- Both mobile and automotive demand fueled the FQ1 beat. OmniVision says it's "ramping up multiple members" of its high-end PureCel image sensors for mobile clients.
- No update is given in the earnings release on OmniVision's review of a $29/share non-binding offer from a Chinese group led by Hua Capital. Shares are at $27.73 AH.
- FQ1 results, PR
Aug. 28, 2014, 4:24 PM
Aug. 27, 2014, 5:35 PM
May 29, 2014, 5:31 PM
- OmniVision (OVTI) expects FQ1 revenue of $360M-$400M, far above a $304.9M consensus. EPS guidance of $0.29-$0.49 is largely above a $0.29 consensus.
- The image sensor vendor says it has made "meaningful progress" in its efforts to diversify into new geographies (read: become less dependent on Apple), and to grow its automotive/security product sales.
- Gross margin rose 50 bps Q/Q and 260 bps Y/Y in FQ4 to 20.1% thanks to sales of "newer and lower cost products." GAAP opex rose 12% Y/Y to $52.4M.
- OmniVision, which currently has a market cap of $1.34B, ended FQ4 with $450.9M in cash and just $35.8M in debt. The company doesn't yet pay a dividend.
- FQ4 results, PR
OVTI vs. ETF Alternatives
OmniVision Technologies Inc designs, develops and markets high-performance, highly integrated and cost-efficient semiconductor image-sensor devices. Its products include image-sensing devices namely CameraChip image sensors.
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