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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
InvenSense (NYSE:INVN) is a technology company which specializes in motion processing devices. They build the chips which are used in gaming devices, smartphones, tablets, video cameras, navigation devices, and other electronic equipment which detect, measure and analyze motion. InvenSense sells a range of processor which vary in degrees of motion it can detect. The company believes that motion detection will continue to expand into mobile devices, toys and game controllers.[1]
Business Overview
For the full year 2011, InvenSense's total revenue was $96.5M. This was an increase over the $79.6M announced in 2010. Net income for 2011 was $9.3M, a decrease from the $15.5M in 2010. The drop was caused largely by a rise in Selling, General & Administrative Expenses (SG&A).[2]
New Updates
The company's initial public offering of stock on the NYSE occurred on November 15, 2011. The company offered 10M shares each for $7.50. This was within the revised $7-$8.50 price range. The company had originally announced that it would sell 10.5M shares within a $8.50-$10.50 range. The deal raised a total of $75M. The lead mangers of the deal were Goldman and Morgan Stanley.[3]
Trends & Forces
Dependence on certain customers
InvenSense has historically received the majority of its revenue from Nintendo (NTDOY) through the sale of chips used in the Wii. A disruption to the Wii's strong sales would have a substantial impact on InvenSense. As a result, the company's performance will be dependent on its ability to transition to other industries or companies. This depends both on the growth of the market for motion sensing devices as well as the ability to develop relations with new companies.[4][5]
- ↑ INVN S-1?A 2011 PROSPECTUS SUMMARY "Overview" pp.1-2
- ↑ INVN S-1?A 2011 PROSPECTUS SUMMARY "Consolidated Statement of Operations Data" pp.8
- ↑ Renaissance Capital - IPO Home "Fabless chip supplier InvenSense prices IPO at $7.50, within the $7-$8.50 range" 15 Nov 2011
- ↑ Seeking Alpha - "IPO Preview: InvenSense Looks Like A Bargain" 17 Nov 2011
- ↑ INVN S-1?A 2011 PROSPECTUS SUMMARY "Risk Factors" p. 4
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