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Turtle Beach (HEAR) Buys Neat Microphones, Enters the $2.3B Market
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Turtle Beach Corporation (HEAR - Free Report) recently announced the acquisition of Neat Microphones — the maker of high-quality digital USB and analog microphones. The financial terms of the deal were not disclosed.
Neat has launched more than 60 products since founding Blue Microphones in 1995. The latest acquisition facilitates Turtle Beach’s entry into the $2.3 billion global microphone market. It expands the audio technology company’s total addressable market for its brands from $5.1 billion to $7.4 billion.
Headquartered in San Diego, CA, Turtle Beach is a leading gaming audio and accessory brand that offers a wide range of gaming headsets. Through this buyout, the company has added almost 40 Neat patents and 70 Neat trademark registrations to its portfolio.
The move diversifies its product portfolio into new categories while complementing Turtle Beach and ROCCAT’s offerings in console and PC accessories. Turtle Beach is known for its excellent microphone performance in gaming headsets. Neat’s cutting-edge technology is likely to enhance its industry-leading product line. The Neat brand expands the company’s reach beyond gaming with a wider variety of consumer audio products.
In 2021, Neat plans to launch updated versions of some of its popular analog and digital microphones. The company is developing the next generation of its products to meet the growing demand for high-quality, affordable microphones.
Turtle Beach is well positioned to benefit from solid product performance, driven by innovation, strong brand and retail partnerships. Its ability to significantly increase its production and delivery capacity along with gain in market share is noteworthy.
Shares of Turtle Beach have gained 136% in the past year compared with 27.8% growth of the industry. The company delivered a trailing four-quarter positive earnings surprise of 81.5%, on average.
The stock currently carries a Zacks Rank #3 (Hold).
Corning delivered a trailing four-quarter positive earnings surprise of 40.7%, on average.
Arista delivered a trailing four-quarter positive earnings surprise of 9.5%, on average.
Airgain delivered a trailing four-quarter positive earnings surprise of 62.5%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Turtle Beach (HEAR) Buys Neat Microphones, Enters the $2.3B Market
Turtle Beach Corporation (HEAR - Free Report) recently announced the acquisition of Neat Microphones — the maker of high-quality digital USB and analog microphones. The financial terms of the deal were not disclosed.
Neat has launched more than 60 products since founding Blue Microphones in 1995. The latest acquisition facilitates Turtle Beach’s entry into the $2.3 billion global microphone market. It expands the audio technology company’s total addressable market for its brands from $5.1 billion to $7.4 billion.
Headquartered in San Diego, CA, Turtle Beach is a leading gaming audio and accessory brand that offers a wide range of gaming headsets. Through this buyout, the company has added almost 40 Neat patents and 70 Neat trademark registrations to its portfolio.
The move diversifies its product portfolio into new categories while complementing Turtle Beach and ROCCAT’s offerings in console and PC accessories. Turtle Beach is known for its excellent microphone performance in gaming headsets. Neat’s cutting-edge technology is likely to enhance its industry-leading product line. The Neat brand expands the company’s reach beyond gaming with a wider variety of consumer audio products.
In 2021, Neat plans to launch updated versions of some of its popular analog and digital microphones. The company is developing the next generation of its products to meet the growing demand for high-quality, affordable microphones.
Turtle Beach is well positioned to benefit from solid product performance, driven by innovation, strong brand and retail partnerships. Its ability to significantly increase its production and delivery capacity along with gain in market share is noteworthy.
Shares of Turtle Beach have gained 136% in the past year compared with 27.8% growth of the industry. The company delivered a trailing four-quarter positive earnings surprise of 81.5%, on average.
The stock currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the industry are Corning (GLW - Free Report) , Arista Networks (ANET - Free Report) and Airgain (AIRG - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Corning delivered a trailing four-quarter positive earnings surprise of 40.7%, on average.
Arista delivered a trailing four-quarter positive earnings surprise of 9.5%, on average.
Airgain delivered a trailing four-quarter positive earnings surprise of 62.5%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>