Royce & Associates LP Grows Position in Inseego $INSG

Royce & Associates LP lifted its holdings in shares of Inseego (NASDAQ:INSG) by 25.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 508,000 shares of the technology company’s stock after acquiring an additional 103,000 shares during the quarter. Royce & Associates LP’s holdings in Inseego were worth $5,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of INSG. Larson Financial Group LLC boosted its position in Inseego by 32.7% in the fourth quarter. Larson Financial Group LLC now owns 36,996 shares of the technology company’s stock worth $380,000 after purchasing an additional 9,111 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Inseego by 209.4% in the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock worth $4,476,000 after purchasing an additional 294,999 shares during the period. Kestra Private Wealth Services LLC bought a new position in shares of Inseego in the 4th quarter worth approximately $191,000. Wexford Capital LP bought a new position in shares of Inseego in the 3rd quarter worth approximately $290,000. Finally, Bank of America Corp DE lifted its stake in shares of Inseego by 393.2% in the 3rd quarter. Bank of America Corp DE now owns 28,948 shares of the technology company’s stock worth $433,000 after purchasing an additional 23,078 shares during the period. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Price Performance

Shares of NASDAQ INSG opened at $13.12 on Friday. The firm has a fifty day moving average price of $13.68 and a 200-day moving average price of $12.04. The stock has a market cap of $213.59 million, a PE ratio of 21.16 and a beta of 1.76. Inseego has a 1 year low of $6.27 and a 1 year high of $21.90.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09. The firm had revenue of $34.34 million during the quarter, compared to analysts’ expectations of $34.53 million. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. On average, research analysts expect that Inseego will post -0.45 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Lake Street Capital reissued a “buy” rating and issued a $22.00 target price on shares of Inseego in a report on Friday, May 1st. Finally, TD Cowen reissued a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Inseego presently has an average rating of “Hold” and a consensus price target of $18.50.

About Inseego

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.