InvenSense (INVN) Message Board

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Technology Stocks : InvenSense (INVN)

INVN 20.80

+0.4%

Oct 30 5:00 PM EST

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To: Elroy who wrote (291)	9/8/2014 7:31:58 PM
From: Taylor Mill	Read Replies (1) of 351

Elroy "..What are the expectations for INVN's revenues in 2014 and 2015?" Not sure if this will actually help what you are interested in, but I am glad to pass it on. From Morgan Stanley coverage: The 3 quarters remaining in FY2015 are estimated at $96 mm, $121mm and $108 mm (calendar Q1 2015) Their fiscal year ends Q1 each calendar year. Act revs for FY 2103 were $208.6 mm; actual revs for FY 2013 were $252.5 mm Estimated FY2015 i.e. next March is $391.9 mm; estimated FY 2016 is $477.7 Estimated 2015 non-gaap earnings of $.80; 2016 is $1.00 Morgan Stanley's target price for INVN is $24 which they arrive at by assigning a 24x multiple to the $1 of 2016 estimated earnings; or one. Draw your own conclusion about the multiple. That's a 24x multiple of 2 years out or a 30x multiple of current year earnings or 56x last years earnings (all non-gaap earnings). But their coverage could be viewed as generous but also fair at this point in time. It's a good gut check as to why anything over $24 right now is pretty rich for this company.

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