Omeros (OMER) (UNH) (OVTI) (DECK) (GLW) (INHX) Price Targets Changed

Omeros Corp. (NASDAQ: OMER), UnitedHealth Group Inc. (NYSE: UNH), OmniVision Technologies, Inc. (NASDAQ: OVTI), Deckers Outdoor (NASDAQ: DECK), Corning Inc. (NYSE: GLW) and Inhibitex (NASDAQ: INHX) had price targets on them adjusted by analysts.

Omeros Corp. (OMER) had its price target raised by Wedbush to $15.00.

UnitedHealth Group Inc. (UNH) had its price target raised by Jefferies (NYSE:JEF) to $60.00. They have a “Buy” rating on the company.

OmniVision Technologies, Inc. (OVTI) had its price target lowered by Canaccord Genuity to $12.00. They have a “Buy” rating on the company.

Deckers Outdoor (DECK) had its price target raised by Piper Jaffray (NYSE:PJC) to $106.00.

Corning Inc. (GLW) had its price target lowered by Goldman Sachs (NYSE:GS) to $13.00.

Inhibitex (INHX) had its price target raised by Wedbush to $18.00. They have an “Outperform” rating on the company.

OmniVision (OVTI) Ratings, Price Targets

OmniVision Technologies, Inc. (OVTI) ratings and price targets.

JPMorgan Chase & Co. (NYSE:JPM) lowered its price target on OmniVision Technologies, Inc. to $14.00.

Morgan Keegan reiterated its “Market Perform” rating on OmniVision Technologies, Inc.

Morgan Keegan lowered its price target on OmniVision Technologies, Inc. to $12.00.

Canaccord Genuity lowered its price target on OmniVision Technologies, Inc. to $12.00. They have a “Buy” rating on the company.

Needham & Company reiterated its “Hold” rating on OmniVision Technologies, Inc.

Quicksilver (KWK) (KELYA) (MCRS) (OVTI) (SKX) (WTS) Price Targets Changed

Quicksilver Resources Inc (NYSE: KWK), Kelly Services, Inc. (NASDAQ: KELYA), Micros Systems Inc (NASDAQ: MCRS), OmniVision Technologies, Inc. (NASDAQ: OVTI), Skechers USA, Inc. (NYSE: SKX) and Watts Water Technologies, Inc. (NYSE: WTS).

Kelly Services, Inc. (KELYA) had its price target lowered by Citigroup (NYSE:C) to $16.00.

Quicksilver Resources Inc. (KWK) had its price target lowered by Jefferies (NYSE:JEF) to $4.50.

Micros Systems Inc. (MCRS) had its price target lowered by Jefferies to $50.00.

OmniVision Technologies, Inc. (OVTI) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $36.50.

Skechers USA, Inc. (SKX) had its price target raised by Sterne Agee to $13.00.

Watts Water Technologies, Inc. (WTS) had its price target lowered by Wedbush to $32.00.

Hartford (HIG) (IEX) (MT) (OVTI) Price Targets Changed

Hartford Financial (NYSE: HIG), IDEX Corp (NYSE: IEX), ArcelorMittal (NYSE: MT) and OmniVision Technologies, Inc. (NASDAQ: OVTI) price targets adjusted by analysts.

Hartford Financial (HIG) had its price target lowered by Argus from $36.00 to $26.00. They have a “Buy” rating on the company.

IDEX Corp. (IEX) had its price target lowered by Oppenheimer from $55.00 to $50.00. They have an “Outperform” rating on the company.

ArcelorMittal (MT) had its price target lowered by Deutsche Bank (NYSE:DB) from $38.50 to $24.50. They have a “Hold” rating on the company.

OmniVision Technologies, Inc. (OVTI) had its price target lowered by Needham & Company from $45.00 to $30.00. They have a “Strong Buy” rating on the company.

IDEX (IEX) (JOYG) (OVTI) (PAG) (SDRL) (MDCO) Ratings Reiterated

IDEX Corp (NYSE:IEX), Joy Global (NASDAQ:JOYG), OmniVision (NASDAQ:OVTI), Penske Auto (NYSE:PAG), Seadrill Ltd (NYSE:SDRL) and The Medicines Co (NASDAQ:MDCO) had ratings on them reiterated by analysts.

Barrington Research reiterated its rating on IDEX Corp. (IEX). They have an "Outperform" rating on the company, and cut its price target from $55 to $45.

Barclays Capital reiterated its rating on Joy Global (JOYG). They have an "Overweight" rating on the company, and cut its price target from $114 to $112.

Needham reiterated its rating on OmniVision (OVTI). They have a "Strong Buy" rating on the company, and slashed their price target on them from $45 to $30.

Ticonderoga reiterated its rating on Penske Auto (PAG). They have a "Buy" rating on the company, and lowered their price target from $27 to $25.

Dahlman Rose reiterated its rating on Seadrill Ltd (SDRL). They have a "Buy" rating on the company, and lowered their price target from $42 to $38.

Argus reiterated its rating on The Medicines Co. (MDCO). They have a "Buy" rating on the company, and cut their price target on them from $25 to $20.

Tiffany (TIF) (OVTI) (P) (CLWR) Make Big Moves

Shares of Tiffany (NYSE:TIF), OmniVision Technologies (NASDAQ:OVTI), Pandora Media (NYSE:P) and Clearwire (NASDAQ:CLWR) are among the big movers today, with Pandora and Tiffany pushing up and Clearwire and OmniVision going in the opposite direction.

Pandora Media (P) was trading at $13.63, gaining $1.16, or 9.30 percent, as of 11:49 AM EDT. Better-than-expected second-quarter earnings is the catalyst here.

Tiffany (TIF) was trading at $67.53, up $4.42, or 7.00 percent. The catalyst for Tiffany was also strong quarterly results which beat analysts' expectations.

OmniVision Technologies (OVTI) is getting pummeled, plunging to $16.93, down $7.89, or 31.79 percent. Weak guidance for the current quarter is the reason for the huge drop in share price.

Clearwire (CLWR) was trading down at $2.74, losing $0.25, or 8.36 percent. Talks with Blackstone Group about restructuring options appears to be the catalyst with Clearwire

Thoratec (THOR) (OVTI) (PSUN) (RJF) (STJ) Price Targets Changed

Thoratec (NASDAQ: THOR), OmniVision Technologies, Inc. (NASDAQ: OVTI), Pacific Sunwear of California, Inc. (NASDAQ: PSUN), Raymond James (NYSE: RJF) and St. Jude Medical, Inc. (NYSE: STJ) price targets adjusted by analysts.

OmniVision Technologies, Inc. (OVTI) had its price target lowered by Wedbush from $45.00 to $38.00. They have an “Outperform” rating on the company.

Pacific Sunwear of California, Inc. (PSUN) had its price target lowered by Wedbush from $3.50 to $2.00. They have an “Underperform” rating on the company.

Raymond James (RJF) had its price target lowered by Ticonderoga from $37.00 to $34.00. They have a “Buy” rating on the company.

St. Jude Medical, Inc. (STJ) had its price target lowered by Morgan Keegan from $60.00 to $53.00. They have an “Outperform” rating on the company.

Thoratec (THOR) had its price target lowered by Morgan Keegan from $35.00 to $32.00. They have a “Market Perform” rating on the company.

Coverage on (IMAX) (KKD) (LINE) (OVTI) Initiated

Imax Corporation (NASDAQ: IMAX), Krispy Kreme Doughnuts (NYSE: KKD), Linn Energy, LLC (NASDAQ: LINE) and OmniVision Technologies, Inc. (NASDAQ: OVTI) had coverage initiated on them today by analysts.

Stifel Nicolaus initiated coverage on Imax Corporation (IMAX). They placed a “hold” rating on the company.

Janney Montgomery Scott initiated coverage on of Krispy Kreme Doughnuts (KKD). They set a “neutral” rating on the company.

Morgan Keegan initiated coverage on Linn Energy, LLC (LINE). They placed an “outperform” rating and a price target of $45.00 on the company.

Lazard Capital initiated coverage on OmniVision Technologies, Inc. (OVTI). They placed a “buy” rating and a price target of $44.00 on the company.

Alanco's (ALAN), OmniVision (OVTI), Ancestry.com (ACOM), True Religion Apparel (TRLG) Soar After Hours

Alanco's (Nasdaq:ALAN), OmniVision Technologies Inc. (NASDAQ:OVTI), Ancestry.com Inc. (NASDAQ:ACOM) and True Religion Apparel Inc. (NASDAQ:TRLG) were all up big in after hours trading, for a variety of reasons.

With Alanco (ALAN), they skyrocketed by over 37 percent on the news they are going to sell their StarTrak unit for $18.5 million to Orbcomm (Nasdaq:ORBC).

True Religion Apparel Inc. (TRLG) surged 7.6%, which was somewhat of a surprise considering its weak guidance. They reported fourth quarter EPS of $0.63, $0.01 above analyst estimates of $0.62. Revenue for the quarter came in at $110.9 million versus the consensus estimate of $104.15 million. Guidance for full year 2011 EPS is $1.80, versus the consensus of $2.02. Full year 2011 revenue guidance was $405 million, against the consensus of $406.83 million.

This was a surprise because most companies have been getting punished for weak guidance this quarter, whether or not their last quarter performance was strong.

OmniVision Technologies Inc. (OVTI) was up 11.8%, reporting third quarter EPS of $0.84, $0.26 above the analyst estimate of $0.58. Revenue for the quarter came in at $265.7 million versus the consensus estimate of $241.74 million. Guidance for fourth quarter revenue was $240-$260 million, vs. the consensus of $217.2 million. Guidance for EPS was 57-70 cents versus consensus of 44 cents.

Ancestry.com Inc. (ACOM) rose by 8.2% after hours, reporting fourth quarter EPS of $0.25, level with the analyst estimate of $0.25. Revenue for the quarter came in at $82.7 million versus the consensus estimate of $81.24 million. Subscriptions were up 31% to 1,395,000 at 12/31/2010. Guidance for the first quarter of 2011 was for revenue of $86-$88 million, versus the consensus of $83.68 million. Ending subscribers of about 1,545,000. For full year 2011, they see revenue of $370-$375 million, versus the consensus of $357.42 million. Ending subscribers are expected to reach a range of 1,700,000 to 1,725,000.

Qualcomm (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), Altera (Nasdaq:ALTR), Omnivision (Nasdaq:OVTI), Spreadtrum (Nasdaq:SPRD) and Semiconductor Rally

Commenting on a number of companies in the semiconduction industry, FBR Capital openly questioned how long companies like Qualcomm (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), Altera (Nasdaq:ATHR), Omnivision (Nasdaq:OVTI) and Spreadtrum (Nasdaq:SPRD), among others, can continue to move up as they have.

FBR said Our latest 4Q production start checks were largely stable versus our prior month checks in aggregate, with slight production improvements by Qualcomm; Broadcom, and Atheros fully offset by production cuts from Altera and Mediatek. On a sequential basis, we still think 4Q production starts will grow by roughly 3%-4% QOQ due to production increases from Qualcomm, Broadcom, Omnivision, and Spreadtrum, and largely offset by sequential production decreases from AMD (NYSE:AMD), Atheros, Marvell (Nasdaq:MRVL), Silicon Labs (Nasdaq:SLAB), Nvidia (Nasdaq:NVDA), and others. Clearly Qualcomm is prepping its basebands for the launch of the CDMA iPhone, and possibly the rest of Apple's (Nasdaq:AAPL) iPhone and iPad product lineup. Our first look at 1Q'11 production starts is surprisingly resilient, with 1Q starts set to grow about 1% QOQ in aggregate. For 1Q'11, a large sequential increase in production starts from Qualcomm and modest production increases from PC chip suppliers AMD, Nvidia, and Marvell are more than fully offsetting traditional seasonal declines in production starts from others. Regarding the sector, we note that chip stocks have had a powerful rally since September 1 with meaningful rallies in stocks like BRCM, QCOM, Texas Instruments (NYSE:TXN), MXIM (Nasdaq:MXIM), Fairchild Semi (NYSE:FCS), Int'l Rectifier (NYSE: IRF), Microsemi (Nasdaq:MSCC), and others. So, while chip stocks seem to want to rally into the end of the year, we wonder how long a straight move higher can continue."

Altera closed Monday at $37.40, down $0.31, or 0.81. Qualcomm closed at $48.32, falling $0.50, or 1.02 percent. Broadcom finished at $45.57, losing $0.19, or 0.42 percent. Atheros finished the day at $34.33, gaining $0.52, or 1.54 percent. Omnivision ended Monday at $31.49, up by $0.37, or 1.19 percent. Spreadtrum closed at $17.39, losing $0.08, or 0.46 percent.

OmniVision Technologies (NASDAQ:OVTI) Shares Undervalued Says Needham

Needham & Company reiterated their "Strong Buy" rating on OmniVision Technologies (NASDAQ:OVTI), saying they see the shares of the company as undervalued.

"We maintain our Strong Buy on OVTI and raise our price target following the company’s solid F2Q11 (Oct) results and F3Q11 (Jan) revenue guidance that was 18% higher than our estimates at the midpoint. With our revised Non-GAAP earnings of $2.20, -$7 of net cash per share, significant product cycles heading into 2011 and ASP acceleration, we believe the shares are currently undervalued. Hence, we estimate there is at least 40% additional upside over the next 12-months...Our FY11 and FY12 estimates increase to $882.5MM$1.95 (vs. $830.0MM/$1.70) and $970.0MM/$2.20 (vs. $900.0MM/$1.90), respectively."

Shares of OmniVision soared on Wednesday, closing at $31.02, gaining $2.73, or 9.65 percent. Needham raised their price target on them from $30 to $40.

Trading volume was over three times more than the 3-month daily average.

OmniVision Technologies (NASDAQ:OVTI) Expected to Beat EPS Estimates

OmniVision Technologies (NASDAQ:OVTI) is will report their latest quarterly results on November 30, and they're expected to exceed earnings expectations for the quarter.

Wedbush sees them positioned strongly in the market, and still having room to grow even though they're close to the top.

"We think seasonality trends will result in guidance below the ($0.42/$211MM) Street and our ($0.44/$226MM) estimates. We are lowering our FQ3 pro forma EPS estimate to $0.32 from $0.44 on revenue of $205MM (-13% Q/Q growth) down from $226MM," said Wedbush.

More than likely to generate more revenue OmniVision will move into the smartphone sector.

OmniVision was trading at $29.00, falling $1.01, or 3.37 percent at 2:13 PM EST. Wedbush has a price target on them of $34, raising it from $28.