OmniVision Technologies (NASDAQ:OVTI) is will report their latest quarterly results on November 30, and they're expected to exceed earnings expectations for the quarter.
Wedbush sees them positioned strongly in the market, and still having room to grow even though they're close to the top.
"We think seasonality trends will result in guidance below the ($0.42/$211MM) Street and our ($0.44/$226MM) estimates. We are lowering our FQ3 pro forma EPS estimate to $0.32 from $0.44 on revenue of $205MM (-13% Q/Q growth) down from $226MM," said Wedbush.
More than likely to generate more revenue OmniVision will move into the smartphone sector.
OmniVision was trading at $29.00, falling $1.01, or 3.37 percent at 2:13 PM EST. Wedbush has a price target on them of $34, raising it from $28.
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