Stock Update (NYSE:INVN): InvenSense Inc Announces Virtual Reality Display Inertial Sensor

InvenSense Inc (NYSE:INVN), a leading provider of MEMS sensor platform solutions, announced the ICM-20603, a 6-axis inertial sensor targeted for Augmented Reality/Virtual Reality/Head Mounted Display (AR/VR/HMD) applications. AR/VR/HMD and 3D audio headsets are primed for vast growth within the next few years (IHS reports 52% CAGR). Consumers are showing great interest in highly immersive experiences with media and content targeted for gaming, movies, 3D music, shopping, education, professional training, and real-estate. The InvenSense ICM-20603’s performance delivers on that promise with best-in-class gyroscope stability vs. time and temperature, coupled with proprietary integrated technology for real time response and content synchronization. These proprietary technologies which allow faster refresh rates on video, and tighter alignment of head tracking motion with content, are essential to creating immersive experiences that avoid user discomforts such as eye stress, headache and nausea.

In addition, the ICM-20603 comes with a compatible 1KHz 9-axis sensor fusion library and software to create a platform for compelling new sensor-rich VR devices.

“Virtual Reality devices are growing at a rapid pace, with opportunity for additional sensor content in the Head Mounted Display and accompanying accessories,” said Eitan Medina, vice president of marketing and product management at InvenSense. “This presents an exciting opportunity forInvenSense which is leading the competition in meeting the rigorous performance demands of this market segment and delivering an exceptional user experience.” (Original Source)

Shares of InvenSense are currently trading at $7.09, up $0.15 or 2.16%. INVN has a 1-year high of $13.94 and a 1-year low of $5.42. The stock’s 50-day moving average is $6.24 and its 200-day moving average is $7.20.

On the ratings front, InvenSense has been the subject of a number of recent research reports. In a report issued on July 4, Pacific Crest analyst Michael McConnell reiterated a Hold rating on INVN. Separately, on May 25, Roth Capital’s Krishna Shankar reiterated a Buy rating on the stock and has a price target of $10.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael McConnell and Krishna Shankar have a total average return of 8.5% and -5.5% respectively. McConnell has a success rate of 67.3% and is ranked #612 out of 4087 analysts, while Shankar has a success rate of 41.4% and is ranked #3799.

Overall, 5 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $6.50 which is -7.1% under where the stock opened today.

InvenSense, Inc. designs, develops, markets and sells micro-electro-mechanical system gyroscopes for motion tracking devices in consumer electronics. It targets applications in smart phones, tablet devices, console and portable video gaming devices, digital still and video cameras, smart TVs, 3D mice, wearable health and fitness monitors and portable navigation devices. 

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