- Down 3.2% yesterday thanks to a broad market selloff, InvenSense (NYSE:INVN) has more thane erased its losses today. Volume is fairly light - 645K shares vs. a 3-month daily average of 1.82M.
- In a column published yesterday evening, SA author Eskela highlights the launch of two new products (previous) at last week's Mobile World Congress - a 6-axis SoC that improves power consumption, and a software library meant to improve location-tracking in areas where GPS signals are weak/unreliable.
- The author also argues recent sales data provided by Apple/Samsung bodes well for InvenSense - Apple stated on Monday it has cumulatively sold 700M iPhones (implies 35M sales since the end of 2014), and Samsung has announced Galaxy S6 pre-orders have topped 20M.
- He doesn't think an expected Apple Watch gyroscope win will move the needle much, given limited early volumes relative to major smartphone wins, but (like some on the sell-side) is upbeat about InvenSense's long-term wearables opportunity. "I think the truly killer design in wearables will be the combination of gesture recognition with always-on microphones, as featured by the Apple Watch. InvenSense is the obvious provider for these solutions..."
- The motion sensor maker had 23.1M shares shorted as of Feb. 27 - that's down from 30.4M on Oct. 15, but still equal to 1/3 of the float.