Piper Jaffray Reiterates Overweight Rating, $25 PT on InvenSense on More Growth Factors Than a Hormone Factory

In a report published Monday, Piper Jaffray analyst Auguste Gus Richard reiterated an Overweight rating and $25.00 price target on

. In the report, Piper Jaffray noted, “We see a number of growth catalysts for INVN over the next two years. They include increasing penetration at Samsung, growing optical image stability penetration, the addition of Apple as a customer, wearables, penetration in low-end smartphones and growth in MEMS microphones. In addition, the company is increasing its value proposition through the integration of additional sensors and increasing software content. We believe the combination of higher levels of integration and more software content will offset normal price erosion in the high volume mobile market. This should allow the company to grow revenue in the 25%-35% range while maintaining gross margin. Finally, we see near term catalysts over the next 90 days as we expect new product announcements at CES and Mobile World Congress as well as a number of wearable design wins. Reiterate OW and $25 PT.” InvenSense closed on Friday at $15.95.