We recently compiled a list of the Why These 15 Hardware Stocks Are Skyrocketing So Far in 2025. In this article, we are going to take a look at where Inseego Corp. (NASDAQ:INSG) stands against the other hardware stocks.
The hardware industry is one of the most promising industries you can invest in right now, and there is a good chance that many companies in this sector are going to deliver triple-digit gains this year. You can thank AI for that since it requires significant amounts of hardware and various types of electrical and industrial equipment.
Of course, the hardware industry is beyond just AI-related stocks. PC sales are forecasted to grow by 4% to 273 million units, while smartphone shipments are anticipated to reach 1.24 billion units. Robotics and the semiconductor sector are likely going to grow at double digits annually this decade on top of that.
Methodology
For this article, I screened the top-performing hardware stocks year-to-date. Stocks that I have covered recently will be excluded from this list.
I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds invest in? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
A close-up of the latest 5G wireless equipment, capturing the lightning-fast speed of the technology.
Inseego Corp. (NASDAQ:INSG)
Number of Hedge Fund Holders In Q3 2024: 11
Inseego Corp. (NASDAQ:INSG) is a company that makes 5G and intelligent IoT device-to-cloud products.
The stock is up significantly so far in 2025 as analysts are optimistic about the company’s Q4 2024 results scheduled for release on February 19, 2025. Inseego Corp. (NASDAQ:INSG)’s 5G solutions generated solid revenue from telecom companies in 2023. Perhaps it could slow the projected decline in Q4.
Management expects a 20% sequential revenue decline for Q4 2024.
Plus, Executive Chairman Phil Brace stepped down in February 2025 to lead Skyworks Solutions, succeeded by Jeff Tuder as independent Chairman, though this hasn’t really added to the company’s recent rally. It is more of a recovery rally from the stock’s earlier plunge after Q3 results.
The consensus price target of $14.33 implies 9.62% upside.
Inseego Corp. (NASDAQ:INSG) stock is up 27.88% year-to-date.
Overall INSG ranks 11th on our list of the hardware stocks that are skyrocketing so far in 2025. While we acknowledge the potential of INSG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INSG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Why These 15 Automotive Stocks Are Skyrocketing So Far In 2025 and Why These 15 Large Tech Stocks Are Skyrocketing So Far in 2025
Disclosure: None. This article is originally published at Insider Monkey.
