Omnivision Technologies initiated with "outperform"

08/11/09 - Wedbush Morgan Securities

NEW YORK, August 11 (newratings.com) - Analysts at Wedbush Morgan initiate coverage of Omnivision Technologies (OVTI) with an "outperform" rating. The 12-month target price is set to $17.

In a research note published this morning, the analysts mention that the company’s growth prospects are expected to be driven by its strong position in the smartphone segment, and continued improvement in its product designs and mix. Omnivision Technologies is also poised to benefit from increasing revenue contributions from emerging end markets and market share gains in several markets, the analysts add.