Some analysts better to earrn money from flipping hamburgers
I don't believe how an analyst can be this much wrong and ignorant with his report. Analysts at Robert W Baird missed by miles. They probably cost their customers millions. I believe that drop on Friday was cusmatic to save some of the short customers.
Lets read the report by analysta at Robert W Baird a few hours(Thursday, May 31, 2007 8:59:57 AM ET) before OVTI earnings report.
Thursday, May 31, 2007 8:59:57 AM ET Robert W. Baird
NEW YORK, May 31 (newratings.com) - Analysts at Robert W Baird maintain their "underperform" rating on OmniVision Technologies Inc (OVTI.NAS). The target price has been reduced from $10 to $8.
In a research note published this morning, the analysts mention that the company�s quarterly results, scheduled to be reported today, and guidance are likely to be adversely impacted by Motorola's continued weakness and excess stockpiles of CMOS image sensors. Although OmniVision Technologies� 1.3mp camera module shipments into notebooks have been higher than expected, only marginally offsetting the weakness in the company�s mobile phone business, the analysts say. OmniVision Technologies continues to witness pricing pressure, Robert W Baird adds.
I don't take analysts opinion with a grain of salt. ALL ARE CROOKS. THIS IS A MAFIA WORLD. Few Greenbacks make change your color from Capitalist to Communist and vice verse. I am accumulating OVTI, my reason is the stock is under-valued and showing earnings power. These are the ingredients of attraction to private equities. When I heard that RIMM attracting private equities I laughed, Private equities do not acquire over valued companies, they are always looking for good companies with basement bargain prices that is OVTI.