Loading...
Loading...
Piper Jaffray reiterates its Overweight rating on InvenSense
INVN and raises its price target $5 to $26 following adjusted estimates post secondary offering.
Piper Jaffray says, "We are tweaking our estimates slightly post the company's follow-on offering, though EPS estimates are effectively unchanged. We believe INVN is well positioned to benefit from the growth of Android smartphones and tablets as well as the growth of smartphones in emerging markets, particularly China. We also expect INVN's revenue opportunity per smartphone to grow through CY13 as the company's revenue mix shifts from 3-axis to 6-axis to 9-axis motion sensors and high-end smartphones start to adopt camera modules with optical image stabilization (
OIS) by the end of CY12."
INVN closed at $20.10 a share on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in