Needham came out with some disappointing comments for InvenSense 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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