Why InvenSense Shares Popped
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 have popped today by upwards of 14% after the company reported earnings.
So what: Revenue in the fiscal first quarter totaled $55.9 million, with adjusted earnings per share of $0.14. Both figures topped consensus estimates, which were calling for $54.4 million in revenue and $0.12 per share in adjusted profit.
Now what: CEO Behrooz Abdi said the company's design win activity has "never been stronger." InvenSense shipped a record number of units last quarter and sales were up 43%. Abdi expects the good times to keep on rolling, saying the third quarter should see unit volumes and revenue grow sequentially to hit new records again.
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The article Why InvenSense Shares Popped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool owns shares of InvenSense. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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