OmniVision's stock plummeted 5.17% during intraday trading on Thursday, extending recent losses for the semiconductor company.

The sharp decline follows the company's disappointing first-quarter results, which showed a 42% year-over-year drop in net profit, significantly missing market expectations. Non-GAAP net profit also fell 27.44% year-over-year, with the earnings drag continuing to weigh heavily on investor sentiment.

Additionally, broader weakness in the semiconductor sector contributed to the selling pressure, with several major industry players also trading lower during the session, further dampening market sentiment across the sector.