InvenSense (INVN) Design Wins Could Drive Upside, Goldman Maintains Buy

June 6, 2013 9:24 AM EDT
Get Alerts INVN Hot Sheet
Price: $12.73 -0.16%

Rating Summary:
    9 Buy, 12 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Goldman Sachs maintained a Buy rating InvenSense (NYSE: INVN) with a modified price target of $16.00 (from $15.00). Analyst James Schneider thinks InvenSense has an opportunity to win share in the next Apple iPhone.

"Ahead of the launch of a series of new smartphone designs in 2HCY, we have quantified the potential for upside to our CY2013/2014 EPS from greater-than-expected gyroscope attach rates as well as the potential for a design win at Apple," said Schneider.

"Relative to STMicro, we believe InvenSense holds a cost advantage and a clearer road map for advanced products. We believe a win in the next iPhone could drive 37% upside to 2013 EPS (60% upside to 2014 EPS), with a smaller volume win (iPad or low-cost iPhone) driving over 20% upside," he added.

For an analyst ratings summary and ratings history on InvenSense (NYSE: INVN) click here. For more ratings news on InvenSense click here.

Shares of InvenSense closed at $13.01 yesterday.

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