Buy on bad news? OVTI – Omnivision Technologies Inc.

A few months ago, MBNA America put out some bad news about credit card default and tumbled to around 12 dollars/share if memory serves. I remember thinking I should buy, but I didn’t because I dond’t understand exactly what the news meant. Now the stock is around 27.00 or so and I wish I had taken a risk.

Am I getting a second chance. Omnivision (OVTI), which makes chips for cell phone cameras, is restating some results and saying they’ll fall short in Q1 (29-31 cents/share instead of the expected 34). Now here’s a company that, according to Yahoo finance, has a PEG of 0.77 and the analysts Yahoo! quotes seem to like it (6 brokers range from one year estimates of 32.00-50.00 with a mean of 41.00 and a median of 42.50). Today the shares are down from the mid-twenties to under 18.00/share.

2 Responses to “Buy on bad news? OVTI – Omnivision Technologies Inc.”

  1. AUOdiv says:

    Hi James, I was just wondering if you received your AUO special %5(five new shares for every hundred)dividend. The note I received said I should have had it last week but it’s still not in my account–I want to know if I should have recieved it by now.

  2. James Trotta says:

    Sorry but I have no idea. I never did invest in AUO.