Thu, Feb. 26, 4:22 PM| Comment!
Dec. 2, 2014, 5:37 PM
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, 2:19 PM
- Down sharply on Monday, OmniVision (OVTI +5.4%) has recovered a chunk of its losses today. FQ2 results arrive after the bell.
- Today's volume (1.1M shares) is well above a 3-month average of 630K. Though not far from their 52-week highs, shares remain 8% below the $29/share price attached to a "non-binding" August buyout offer from a Chinese investor group.
Dec. 1, 2014, 2:31 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| 2 Comments
Aug. 15, 2014, 9:54 AM
- Baird has downgraded OmniVision (OVTI -1.8%) to Neutral a day after the company received a non-binding $29/share buyout offer from a Chinese investor group led by Hua Capital. The firm doesn't think OmniVision, which now trades at $27.67, will see a premium to Hua's offer.
- Yesterday, Needham hiked its target by $5 to $32 in response to the bid. The firm observes chip companies recently acquired by state-owned Chinese entities have seen "an average 5-10% bump from the initial bid." It also thinks a competing offer from a U.S. firm or Chinese entity is possible.
Aug. 14, 2014, 10:21 AM
Aug. 14, 2014, 9:07 AM
- China's Hua Capital has made a "non-binding" offer to acquire OmniVision (NASDAQ:OVTI) for $29/share in cash. The price represents an 18% premium to yesterday's close, and translates into a $1.7B valuation.
- The image sensor vendor says its board is reviewing Hua's proposal, and has made no decision yet.
- Shares are halted.
Jun. 25, 2014, 11:23 AM
May. 30, 2014, 12:45 PM
May. 30, 2014, 9:14 AM
May. 29, 2014, 5:37 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
Other News & PR