Why InvenSense Shares Soared

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of InvenSense (NYSE: INVN  ) have soared today by upwards of 13% after the company reported better-than-expected earnings.

So what: Revenue in the quarter came out to be $58.9 million, with net income of $16.8 million, or $0.19 per share. Those figures are up from $41.2 million in sales and a profit of $10.6 million a year prior. The company now has $192.6 million in cash and equivalents on the balance sheet.

Now what: CEO Behrooz Abdi said it was a record quarter in terms of revenue as well as unit shipments, thanks to design wins with the company's MotionTracking lineup. The company's newest generation of products feature an integrated gyroscope and accelerometer, which are frequently found in mobile devices today. The results came just a day after Pacific Crest initiated coverage on the company with an outperform rating and $15 price target. Shares were pennies away from that target today.

Interested in more info on InvenSense? Add it to your watchlist by clicking here.

Read/Post Comments (0) | Recommend This Article (4)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2214181, ~/Articles/ArticleHandler.aspx, 9/30/2016 6:20:14 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 4:02 PM
INVN $7.12 Down -0.15 -2.06%
InvenSense CAPS Rating: *****