140,850 Shares in Inseego $INSG Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC acquired a new stake in Inseego (NASDAQ:INSG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 140,850 shares of the technology company’s stock, valued at approximately $2,109,000. First Eagle Investment Management LLC owned 0.93% of Inseego as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP purchased a new position in shares of Inseego during the third quarter worth about $6,063,000. Balyasny Asset Management L.P. lifted its position in Inseego by 171.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after acquiring an additional 317,401 shares during the period. Geode Capital Management LLC grew its stake in shares of Inseego by 118.9% in the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock valued at $2,306,000 after purchasing an additional 151,970 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Inseego by 4.6% in the third quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock valued at $9,935,000 after purchasing an additional 29,236 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Inseego by 276.2% during the third quarter. AlphaQuest LLC now owns 35,525 shares of the technology company’s stock worth $532,000 after purchasing an additional 26,083 shares during the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Stock Down 0.3%

NASDAQ:INSG opened at $11.47 on Thursday. Inseego has a fifty-two week low of $6.24 and a fifty-two week high of $18.11. The stock has a market cap of $186.04 million, a PE ratio of -60.37 and a beta of 1.18. The firm’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $12.28.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. Inseego had a net margin of 0.50% and a negative return on equity of 13.38%. The firm had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $46.89 million. Equities analysts anticipate that Inseego will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on INSG. Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Lake Street Capital started coverage on shares of Inseego in a research note on Monday, December 15th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Finally, TD Cowen reiterated a “hold” rating and set a $15.00 price target (up from $14.00) on shares of Inseego in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Inseego Profile

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.