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Friday, March 29, 2024

Barrington Initiates Coverage On InvenSense Amid Design Wins With Apple, Samsung And Xiaomi

Courtesy of Benzinga.

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On Monday, analysts at Barrington Research initiated coverage on shares of InvenSense Inc (NYSE: INVN) with an Outperform investment rating and $20 price target.

Ted Moreau Jr. finds the company is gaining market share in the Micro-electro-mechanical Systems space amid design wins with Samsung, Xiaomi and Apple.

“InvenSense has content opportunities in OIS, algorithm and software content, multi?core hub, pressure sensors, and microphones, which combined should drive a more than doubling of their served available market in the coming years from nearly $1.00 in content per smartphone today.”

In addition, Moreau Jr. feels through its sensors positions, the company is well positioned for the Internet of things (IoT) and wearables market. Barrington analysts mention Internet of Things opportunities will drive future growth for the company as the smartphone market begins to mature.

Lastly, Moreau Jr. predicts free cash flow and margin expansion in the coming years as the company benefits from a shift towards “internet of thing flavor.”

Shares of InvenSense recently traded at $15.14, up 0.26 percent.

Latest Ratings for INVN

Date Firm Action From To
Feb 2015 Barrington Research Initiates Coverage on Outperform
Nov 2014 JMP Securities Initiates Coverage on Outperform
Oct 2014 Imperial Capital Maintains Outperform

View More Analyst Ratings for INVN
View the Latest Analyst Ratings

Posted-In: Barrington Research Ted Moreau Jr.Analyst Color Price Target Initiation Analyst Ratings

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