Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of image sensor specialist OmniVision Technologies (Nasdaq: OVTI ) have popped today, enjoying gains north of 16%, after the company reported third-quarter earnings.
So what: This quarter's figures were solid but nothing spectacular, with revenue of $185.2 million and adjusted earnings of $0.13 per share, both of which were mostly in line with what the market was expecting. The real spark was in the upbeat guidance for next quarter.
Now what: OmniVision expects fourth-quarter sales to be in the ballpark of $195 million-$215 million, topping the Street's expectations of a $170 million top line. Shares have been dogged by overwhelming pessimism in recent months as they reached bargain-bin prices low enough to attract famed value investor David Einhorn. The company's second-generation BSI-2 sensors are starting to hit the market, so hopefully the upbeat guidance is a preview of more to come.
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