InvenSense: Expects Risks To Outweigh Long-Term Potential, Says Oppenheimer

In a research report sent to investors today, Oppenheimer analyst Andrew Uerkwitz maintained a Perform rating on InvenSense Inc (NYSE:INVN), while no price target was provided.

Uerkwitz noted, “Today, we publish our first annual mobile handset outlook. Our conclusion is that Samsung will be severely challenged in the coming years, China will continue to rise, and Apple will gain market share in the high end. For the component space, this means margin pressure and higher design-win uncertainty (due to hyper- competitiveness), while integration is key for longer-term relevance. InvenSense has the parts in place to be a key integrator. However, in the near term, we expect GM compression and customer-share pressure to weigh on the stock. We note our EPS estimates are Street-low and we believe we balance the upside risk (microphone growth) with the downside (share loss at Apple/Samsung).”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 6.0% and a 61.5% success rate. Uerkwitz has a 28.7% average return when recommending INVN, and is ranked #1004 out of 3372 analysts.

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