Oppenheimer analyst Andrew Uerkwitz weighed in today with a few insights on InvenSense Inc (NYSE:INVN) after meeting with CEO Behrooz Abdi and CFO Mark Dentinger during the 13th Annual Semiconductor Bus Tour. The analyst reiterated a Perform rating on the stock, with no price target provided. Shares of INVN are currently trading at $14.60, down $0.36, or -2.41%.
Uerkwitz wrote, “INVN management reiterated its product road map, and addressed questions regarding competition and growth strategy. INVN continues to enhance its software capabilities that complement its MEMS sensors. The company aspires to become a total sensing solution provider rather than a commodity parts supplier. Management reiterated that OIS will remain a growth driver for the top line, as better image capturing ability is a top differentiation for most smartphone OEMs (especially Chinese OEMs).”
Furthermore, “With continued growth in smart mobile electronics and market expansion of motion sensors, InvenSense has enjoyed rapid market share gain across all major OEMs. But we believe with continuous pressure on gross margin and potential share loss to competition, caution is necessary.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 6.1% and a 61.0% success rate. Uerkwitz has a 25.7% average return when recommending INVN, and is ranked #763 out of 3614 analysts.
Out of the 6 analysts polled by TipRanks, 4 rate InvenSense stock a Buy, while 2 rate the stock a Hold. With a return potential of 26.89%, the stock’s consensus target price stands at $18.50.