Zacks Industry Rank Analysis Highlights: Google, ChipMOS Tech and Omnivision Tech

 Zacks Industry Rank Analysis Highlights: Google, ChipMOS Tech and Omnivision

PR Newswire

CHICAGO, July 2, 2013

CHICAGO, July 2, 2013 /PRNewswire/ --Stocks featured in this week's Zacks
Industry Rank analysis include Google (Nasdaq:GOOG-Free Report), ChipMOS Tech
Ltd (Nasdaq:IMOS-Free Report) and Omnivision Tech (Nasdaq:OVTI-Free Report).


Zacks Industry Rank Analysis is written by John Blank, PhD, Chief Equity

Small Components, Big Earnings

Tech has seen its share of ups and downs. But the social need for connectivity
is bringing screens of all sizes to the masses in second and third world
countries. Meanwhile, tech innovation has become the MSG of the first world.
We simply can't get enough.

As Google (Nasdaq:GOOG-Free Report) develops internet "balloons" to carry web
access to every corner of the globe, the propagation of technology is becoming
so ubiquitous that it stands to become the next basic necessity, just behind
air, food and water. With these factors in mind, it should come as no surprise
that the Zacks Industry Rank for electronic components and semiconductors
jumped +27 this week.

Electronic Components & Semiconductors now enjoys a Zacks Industry Rank of

Typically, sectors with a large number of companies make more modest movements
in this industry rank list. However, this group of 59 companies benefited from
20 recent positive revisions to annual earnings estimates compared to only 8
negative revisions. While these positive estimate revisions average only +6%
individually, the sheer number of companies in this industry being revised
higher is powering this deep Zacks Industry Rank movement. 

Two companies in particular seem charged for strong profitability.

Their shares have been upgraded this week in terms of their individual Zacks
Rank. Upward movement in this rank from a Buy or Hold to a Strong Buy signals
a stock may be on the move higher, following future positive earnings estimate

Including this factor in your investment strategy can assist in grasping not
only the direction of a given business, but secular trends within a sector
like Tech. Both of these businesses have been revised upward to a current
Zacks Rank #1 (Strong Buy). Both hold a Zacks long-term recommendation of
"Outperform," too.

As with any good investment strategy, pay close attention to the components.
It is time well spent.

ChipMOS Tech Ltd (Nasdaq:IMOS-Free Report)

IMOS is a Zacks Rank #1 (Strong Buy). It was upgraded two spots within the
last week from a Zacks Rank #3 (Hold). This company reports earnings on August
16, 2013.

ChipMOS Tech is the leading independent provider of semiconductor testing and
assembly services. The company is the largest independent provider of testing
and assembly services for LCD and other flat-panel display driver
semiconductors globally, and a leading provider of testing and assembly
services for advanced memory products in Taiwan. With the global LCD market
under heavy pressure to accommodate more screens per household, not to mention
larger and better options, demand appears strong.

IMOS pays an annual dividend of 0.72%. Their most recent quarterly earnings
surprise was +215%.

Omnivision Tech (Nasdaq:OVTI-Free Report)

OVTI is a Zacks Rank #1 (Strong Buy), climbing up from Zacks Rank #2 (Buy)
just last week. This company reports quarterly earnings on August 22, 2013.

OmniVision Technologies, Inc. designs, develops and markets semiconductor
imaging devices for computing, communications and consumer electronics
applications. The company's major products, CMOS image sensors, are used to
capture an image in actual cameras and camera-related products such as
personal computer cameras, digital still cameras, personal digital assistant
cameras and mobile phone cameras.

Recently, the company introduced a new sensor for 8 megapixel smartphone
cameras. They continue a balanced approach to their offerings by providing
image sensor products in segments such as automotive, security and tablet/pc
webcams. OVTI has a big end-market position in China.

OVTI's most recent quarterly earnings surprise was +88%.

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