Roth Capital Comments On InvenSense Following Investor Meetings
In a research report sent to investors today, Roth Capital analyst Krishna Shankar reiterated a Buy rating on InvenSense Inc (NYSE:INVN) with a $25 price target, which represents a potential upside of 73% from where the stock is currently trading.
Shankar commented: “During ROTH Capital-hosted investor meetings this week, INVN management presented a positive long-term outlook driven, in our opinion, by momentum for Apple iPhone6 shipments, dominant marketshare at Samsung and LG, and growing momentum with top-tier China Android handset vendors such as Xiomi, Huawei, Lenovo, Oppo, and ZTE.”
The analyst added “Beyond near-term margin issues, we believe that INVN has growth opportunities for its OIS chips, microphone chips, sensor SoC chips with software in markets such as wearables, smart TV, gaming, and health/fitness applications.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 4.1% and a 51.6% success rate. Shankar has a -20.9% average return when recommending INVN, and is ranked #1053 out of 3403 analysts.