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What: Shares of InvenSense
So what: Results in the fourth quarter were mostly in line with expectations, with revenue of $33.1 million and net income of $5.9 million, or $0.07 per share. CEO Steven Nasiri said he's encouraged by the continued adoption of the company's Motion Interface in smartphones and tablets, but InvenSense still had to reduce its guidance.
Now what: Next quarter was originally expected to see revenue in the range of $38 million-$42 million, and InvenSense is ratcheting down the high end of that forecast to $40 million. Nasiri said some important customers were surprised by temporary component shortages in new LTE smartphones, which forced some delays in product releases. Piper Jaffray analyst Gus Richard said the delays stemmed from Qualcomm's yield issues with its new baseband chip, which were discussed during that company's recent earnings release.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Qualcomm and InvenSense. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.