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Needham Believes InvenSense Not Likely to Have iPhone 6 Contract

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Needham came out with some disappointing comments for InvenSense (NYSE: INVN) shareholders on Friday. In the note, analyst Vernon Essi said the company is not likely to be part of Apple's iPhone 6.

In a meeting between InvenSense and Essi, the company made no official comment on iPhone 6, but the analyst “did not get the impression” the company has an optical image stabilization win with Apple.

Essi said InvenSense's MEMS microphone development project is ongoing and revenues from the product can be expected next year.

Essi reiterated his Hold rating. Shares are down 2.6 percent to $21.40.

Latest Ratings for INVN

DateFirmActionFromTo
Dec 2016DowngradesOverweightSector Weight
Dec 2016DowngradesBuyHold
Dec 2016Initiates Coverage OnBuy

View More Analyst Ratings for INVN
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Posted-In: Needham Vernon EssiAnalyst Color Analyst Ratings

 

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