The ring magnet speed and direction sensing scheme according to the present invention addresses many of the shortcomings of the prior art. In accordance with various aspects of the present invention, a pair of bridges placed on the same semiconductor chip are provided for sensing the passing of north/south transition points on a ring magnet. In accordance with an exemplary embodiment, the bridge contains a first group of runners that are perpendicular to a second group of runners. The bridges are placed to cause the signal from one bridge to slightly follow the signal from the other bridge. Placement of the bridges on the same chip enables highly accurate readings.