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OmniVision Technologies Inc. (OVTI) Sank To A 2-Month Low On Weak Q4 Outlook

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OmniVision Technologies Inc. (OVTI: Quote) reported third quarter adjusted net income of $0.56 per share after the bell Thursday, up from $0.13 per share last year. The consensus estimate was for EPS of $0.41. The company expects to report fourth quarter EPS of $0.14 to $0.29, which is below the consensus estimate of $0.32.

OmniVision Technologies gapped open lower Friday, but recovered some ground during the first hour of trade. The stock finished down by 1.80 at $13.61, with volume at a 6-month high. OmniVision dropped to a 2-month low and fell below both its 50 and 200-day moving averages.

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by RTT Staff Writer

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