InvenSense trades near lows as the smartphone market weakens and primary customers shift premium focus.
Opportunity outside of smartphones continues to provide a potential catalyst for the next rally.
The stock is too cheap with an enterprise value dipping below $600 million.
Ever since going public at the end of 2011, InvenSense (NYSE:INVN) has seen their stock spend a considerable amount of time retesting the $10 level. The motion sensing technology leader continues to struggle to move from a level of developing a market into consistent and profitable growth due to binary decisions with big customers.