Why InvenSense 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 (NYS: INVN) soared by as much as 30% after the company reported upbeat earnings and guidance.
So what: First-quarter sales totaled $39.2 million, with net income of $7.7 million, or $0.09 per share. That bottom-line result is just about what analysts were expecting. CEO Steven Nasiri said the company is encouraged by continued adoption of its Motion Interface offerings.
Now what: The company expects second-quarter sales to be in the range of $53 million-$57 million, on the high end of the consensus of $54.3 million. InvenSense launched its six-axis MotionTracking solution, which is seeing strong adoption already in smartphones and tablets, including "mid-range" devices. The company saw some limited availability in various other components but the Motion Interface family did well.
Interested in more info on InvenSense? Add it to your watchlist byclicking here.
The article Why InvenSense Soared originally appeared on Fool.com.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 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.