Needham Believes InvenSense Not Likely to Have iPhone 6 Contract
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
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Dec 2016 | Pacific Crest | Downgrades | Overweight | Sector Weight |
| Dec 2016 | Loop Capital | Downgrades | Buy | Hold |
| Dec 2016 | Loop Capital | Initiates Coverage On | Buy |
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Posted-In: Needham Vernon EssiAnalyst Color Analyst Ratings
