At least I held long enough to make most of my sales in recent months long term cap gains versus short term cap gains. I also had net positive trading options around my common position. This baby is a wild one!
Soup, You've appear to have done very well here hanging on through many brutal swings and selling near a recent top. Congrats.
As I disclosed earlier, I also sold about half my rather large position around $20 prior to last earnings on the way up, so I am by no means claiming I have traded OVTI perfectly or anything. I am just trying to make money along the way and manage risk a bit, which has been working fine so far. After last earnings call, I feel more confident that OVTI is worth $20 or better. JMO.
Yes, I just bought back in too at $20.82 some I had sold at $21.85. I neglected to sell on the initial big spike to $24. Would buy more at $20.00. JMO.
So I guess this Amazon phone has been released today and is 3D capable. Probably OVTI is providing the 3D capability by the interaction of their four small sensors. That ought to be worth something and tells us OVTI is still providing some leading edge technology.
Go to Image Sensors World blog and do a search for Amazon. You will see a story dated 3/21/14 titled "Amazon's Smartphone rumored to Have 6 Camera Modules". There is a table included in the story where it looks like Sony has a 13 and 2 mp sensor while OVTI has four 0.3 mp sensors in the Amazon smartphone. The table is from Ming-Chi Kuo at KGI securities. Note: He is not always right.
To answer my own question, yes, KGI securities says OVTI will be in new AMZN phone, but it looks to me like Sony got the big mp sensors and OVTI got the little ones.
I could be wrong, but Go Pro kind of reminds me of Beats Ear buds --- nothing particularly outstanding about them or hard to duplicate, but both companies have managed to brand themselves with a "cool factor" and can thus gain market share while charging a premium.
Say it ain't so Soup! Congrats on holding on to your entire long position in to these earnings! I put in an order for a bull call spread today to replace the portion of common I sold yesterday, but it never filled. But I am happy about the rise in the 50% position that I have left.
Edit: I meant to say that the investment in WLCSP is worth about $2.83 in addntl book value per OVTI share as of yesterday morning according to my rough calculation.
And I still have a pretty good position in common stock as well. By the way, I looked at WLCSP yesterday for the first time in a while, and OVTI's investment in that company is holding up quite well --- worth about $2.83 per OVTI share as of yesterday morning.
I sold a little over half yesterday because we reached my pre earnings price target and I don't have a solid feel for the near term. I have never understood the rationale behind analysts' FY '15 estimates. I have never read a clear case behind those estimates anywhere, but those estimates, unlikely and unsupported as they may be, still make me nervous.
Nonetheless, irrespective of those estimates, I am bullish on this company long term, especially given all their rapidly expanding markets outside of Apple --- worldwide mobile, automotive and security, so I am going to take a look at redeploying some of the money that I took off yesterday in to a long dated OVTI bull call spread, thus committing less capital overall to OVTI, but still participating in upside. JMO.
More on the MiPad from Etechrunch: "Apart from high-performance mobile handsets, Xioami is eyeing on to test its fortune in the tablet business as it is going to release its first tablet codenamed “Mi Pad” from June, this year. This tablet will hit the market shelves all across the Asia Pacific region, south Asia and the American continents initially. The American markets are termed as the toughest markets to capture for the market layman.
The Mi Pad is considered to be an iPad clone and it features identical attributes with the Mi phone. The tablet is equipped with Android OS, a massive 7.9 inch display, a duo of optimized shooters on either sides of the device and a super-fast chipset. The prices of Mi Pad are also reasonable as it hangs a tag of 1,499 Yuan ($240), which is far lesser than the 2,888 Yuan for a contemporary iPad mini"
Actually the MiPad seems like it would be a net positive for Cirrus, assuming that Cirrus will likely sell more chips overall than they would otherwise, and that the MiPad will take sales away from other Android tablets as well as the iPad mini 2.. Of course this also assumes that Cirrus will have meaningful component content in the MiPad.
Apparently not just the name and look of the MiPad are like an Apple Ipad mini 2, but also the user interface, which is a heavily customized version of Android made to look and feel like IOS. See story at AppleInsider.
Looks like Xiaomi is directly ripping off the Ipad with a new MiPad. Perhaps a neutral result for Cirrus? More MiPad sales and fewer iPad sales? Not in Cirrus at the moment.
re: Is that the one used in the HTC One M8?
No. For the new HTC One (M8), OVTI won both rear facing sensors, with the primary rear facing sensor being part # OV4688 and the secondary rear facing sensor being part #OV2722. Samsung got the front facing sensor, part # S5K5E2.
Seems like OVTI has a shot to break $20 and test the 52 week high prior to May 29 earnings. Chart still looks pretty constructive imho.