Topeka Trims PT on InvenSense (INVN), Reiterates Buy

Topeka Capital reiterated a Buy rating on InvenSense (NYSE: INVN) with a modified price target of $22.00 (from $25.00).

Analyst Suji De Silva said, "INVN reported March quarter revenue above consensus and guided June quarter slightly behind consensus, but still representing nearly double digit QoQ growth at the mid-point. EPS was slightly behind consensus reflecting higher expenses. We continue to model healthy double digit FY15 revenue growth with ramp at the Company’s lead customer and increasing share in the China handset market."

For an analyst ratings summary and ratings history on InvenSense click here. For more ratings news on InvenSense click here.

Shares of InvenSense closed at $20.59 yesterday.

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