First Eagle Investment Management LLC Purchases 294,999 Shares of Inseego $INSG

First Eagle Investment Management LLC lifted its position in Inseego (NASDAQ:INSG) by 209.4% in the 4th quarter, Holdings Channel reports. The fund owned 435,849 shares of the technology company’s stock after acquiring an additional 294,999 shares during the quarter. First Eagle Investment Management LLC’s holdings in Inseego were worth $4,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Inseego by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock valued at $9,935,000 after buying an additional 29,236 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock valued at $4,137,000 after purchasing an additional 317,401 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Inseego in the 3rd quarter worth approximately $6,063,000. Geode Capital Management LLC increased its position in Inseego by 118.9% during the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock valued at $2,306,000 after buying an additional 151,970 shares in the last quarter. Finally, UBS Group AG raised its stake in Inseego by 134.9% during the third quarter. UBS Group AG now owns 126,145 shares of the technology company’s stock valued at $1,888,000 after buying an additional 72,452 shares during the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Price Performance

INSG stock opened at $15.06 on Thursday. Inseego has a 1 year low of $6.27 and a 1 year high of $21.90. The company has a market cap of $245.18 million, a P/E ratio of 24.29 and a beta of 1.76. The stock’s fifty day moving average price is $13.41 and its 200-day moving average price is $12.23.

Inseego (NASDAQ:INSG) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. The company had revenue of $34.34 million during the quarter, compared to analysts’ expectations of $34.53 million. Inseego had a negative return on equity of 13.38% and a negative net margin of 1.26%. As a group, analysts expect that Inseego will post -0.21 earnings per share for the current year.

Analysts Set New Price Targets

INSG has been the subject of several analyst reports. Lake Street Capital restated a “buy” rating and set a $22.00 price target on shares of Inseego in a report on Friday, May 1st. Weiss Ratings upgraded Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Finally, TD Cowen reaffirmed a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Inseego in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

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.