UPDATE: Wedbush Lowers OmniVision Technologies' PT

According to a research report published this morning, Wedbush has lowered OmniVision Technologies'

PT from $16 to $15. In the report, Wedbush said, "We maintain our NEUTRAL rating on OmniVision (OVTI) and reduce our PT to $15 from $16 ahead of its FQ4 (Apr) results set to be reported AMC on Thursday, May 31. We expect OVTI's print to likely be above the Street and our estimates and towards the high end of its guidance ranges, largely driven by the strong launch of the iPad 3. While we look for the continued ramp of the iPad 3 to bolster the entertainment segment, we believe this growth will be somewhat offset by tempered demand trends in mobile handsets and notebooks likely resulting in FQ1 (Jul) guidance below Street expectations." OmniVision Technologies closed Friday at $14.19.