UPDATE: Oppenheimer Upgrades InvenSense to Outperform on Growth Outlook
Oppenheimer raised its rating on InvenSense (NYSE: INVN) from Perform to Outperform with a $17 price target.
Oppenheimer noted, "With its leading Android share, recent design wins at Samsung, and several reference designs with leading Chinese domestic maker chip vendors, INVN is poised to grow its revenues and earnings. We think its leverage to the right end markets (Samsung, Android, China) merits a premium multiple."
InvenSense closed at $13.10 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.