Invensense (INVN) delivers motion interface solutions based on its multi-axis gyroscope technology that target smartphones and tablets, console and portable video gaming devices, and smart televisions. The company has been on a roll recently. It posted earnings in late July that beat on both the top and bottom lines. It also raised its forward guidance along with its strong results.
Analysts have come and stated that the company had design wins and will be in the new iPhone. This has received confirmation by the company's recent large inventory surge. The median price target by the 11 analysts who cover the stock is $20 a share, approximately 20% above the current stock price. In addition, Topeka Capital, Evercore, Maxim Group, and Goldman Sachs have issued or reiterated "Buy" ratings on the stock over the past three months. Revenues are expected to grow at better than a 20% CAGR over the FY 2013 and FY 2014 fiscal years. The company also has net cash on the balance sheet of ~$2 a share.