JP Morgan Maintains Overweight Rating and $19.50 PT on OmniVision Technologies

A report from J.P. Morgan reiterates its Overweight rating and $19.50 price target on OmniVision Technologies OVTI. The report states, “On November 7, OVTI issued preliminary F2Q12 revenue estimates that were below company guidance and below our prior Street-low forecast, citing an unexpected drop-off in orders for Omnipixel and first-generation BSI product. We expect OVTI to report F2Q12 results in-line with the pre-announcement.” OVTI closed yesterday at $11.73.