NEW YORK (TheStreet) -- InvenSense (INVN) was falling -4.4% to $19.69 Friday after missing analysts' estimates for earnings in the fiscal fourth quarter and issuing a soft guidance for the fiscal first quarter.
For the fiscal fourth quarter InvenSense posted earnings of 7 cents a share, missing the Capital IQ Consensus Estimate of 10 cents a share by 3 cents. Revenue grew 6.9% year-over-year to $59 million in the quarter, while analysts expected revenue of $57.42 million
Looking to the fiscal first quarter the company expects EPS of 7 cents to 8 cents a share, while analysts expect 16 cents a share. InvenSense forecasts revenue of $63 million to $66 million, below analysts' estimates of $69.1 million.
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TheStreet Ratings team rates INVENSENSE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate INVENSENSE INC (INVN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and premium valuation."