New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 30, 2013
12:23 EDTOVTI, STM OmniVision Technologies plummets after quarterly revenue, guidance disappoints
Shares of image sensor devices company OmniVision Technologies (OVTI) are falling after the company reported first quarter revenue that fell shy of consensus estimates, and issued disappointing second quarter guidance. WHAT'S NEW: Last night, OmniVision reported first quarter adjusted earnings per share of 55c and revenue of $373.7M. Analysts' consensus expectations were for EPS of 43c and revenue of $376.58M. WHAT'S NOTABLE: The company predicted that it would report adjusted EPS of 36c-53c and revenue of $375M-$410M for the second quarter. Analystsí consensus estimates were 49c and $406.6M, respectively. ANALYST REACTION: This morning, a number of analysts reacted negatively to OmniVision's results and guidance. Research firms Oppenheimer, Craig-Hallum, and Northland Securities all downgraded the stock. They cited margin pressure and increasing competition as reasons for the downgrade. Meanwhile, Craig-Hallum lowered its price target on the shares to $18 from $24. PRICE ACTION: In early afternoon trading, OmniVision fell $2.88, or 15.6%, to $15.53 on more than six times the average daily trading volume. OTHERS TO WATCH: Shares of OmniVision's competitor, STMicroelectronics N.V. (STM), were down about 3% in early afternoon trading.
News For OVTI;STM From The Last 14 Days
Check below for free stories on OVTI;STM the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2014
10:00 EDTSTMOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
07:28 EDTSTMSTMicroelectronics downgraded to Underperform from Market Perform at Bernstein
Bernstein downgraded STMicroelectronics to Underperform based on expectations upcoming quarters will disappoint and that management will have to lower margin targets.
July 25, 2014
09:15 EDTSTMSTMicroelectronics opens MEMS Microphone Lab in Taiwan
Subscribe for More Information
July 23, 2014
10:20 EDTOVTISony investing to increase stacked CMOS image sensor production
Sony (SNE) announced earlier that it plans to invest in Nagasaki TEC and Kumamoto TEC from the second half of FY14 through the first half of FY15 to increase its production capacity for stacked CMOS image sensors. This investment is primarily intended to reinforce Nagasaki TEC's layering process production capabilities, as well as Kumamoto TEC's mastering process facilities. The current investment is expected to enable Sony to complete subsequent stages of production, including the layering process, at Nagasaki TEC on semiconductor chips that have undergone the mastering process at Yamagata TEC, providing Sony with a fully integrated production system for stacked CMOS image sensors. This investment forms part of Sony's mid - to long-term plan to increase its total production capacity for image sensors to approximately 75K wafers per month and is expected to increase the current capacity of approximately 60K wafers per month to approximately 68K wafers per month in August 2015. Sony intends to bolster its manufacturing capacity for stacked CMOS image sensors, and further strengthen its integrated supply operations, and to thereby reinforce its leading market position. The total investment amount is expected to be approximately Y35B to be carried out in FY14 and in FY15. Of this, the amount to be invested in FY14, or approximately Y9B, was included in the forecast of capital expenditure for semiconductors in the current fiscal year of approximately Y65B announced on May 14. Note that OmniVision Technologies (OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
05:16 EDTSTMSTMicroelectronics sees Q3 revenue up about 3%
Subscribe for More Information
05:12 EDTSTMSTMicroelectronics reports Q2 adjusted EPS 11c, consensus 3c
Subscribe for More Information
July 15, 2014
14:59 EDTSTMSynaptics shares should be bought on weakness, says Cowen
Subscribe for More Information
08:19 EDTOVTIOmniVision regaining smartphone market share in China, says RW Baird
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use