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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
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November 17, 2015
08:54 EDTSTMMaxim could be bidder for Fairchild, says Citi
Citi analyst Atif Malik views Maxim Integrated (MXIM) as a potential acquirer Fairchild Semiconductor (FCS). Bloomberg on October 13 reported that Fairchild was seeking advice for a potential sale, and listed potential acquirers as STMicroelectronics (STM), Infineon (IFNNY) and ON Semiconductor (ON). Bids from STM and ON seem unlikely, but Infineon and Maxim could be potential acquirers of Fairchild, Malik tells investors in a research note. In a bull case scenario, Fairchild's buyout value could reach $25 per share, the analyst contends. Fairchild closed yesterday at $17.76. Malik's peer at Citi, analyst Christopher Danely, argued today in research note that Maxim Integrated (MXIM) is unlikely to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Danely views Xilinx (XLNX) as a potential takeout target, potentially for Qualcomm (QCOM).

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