InvenSense Inc. (INVN) Receives $8.20 Consensus Price Target from Analysts
Shares of InvenSense Inc. (NYSE:INVN) have earned an average rating of “Hold” from the thirteen brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.20.
A number of research firms have recently commented on INVN. Zacks Investment Research cut InvenSense from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th. Benchmark Co. set a $8.00 price target on InvenSense and gave the company a “hold” rating in a report on Sunday, November 6th. Pacific Crest reaffirmed a “buy” rating and set a $9.00 price target on shares of InvenSense in a report on Friday, November 4th. Finally, Roth Capital began coverage on InvenSense in a report on Wednesday, August 31st. They set a “buy” rating and a $9.00 price target on the stock.
In other news, VP Daniel Goehl sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $7.88, for a total value of $29,550.00. Following the transaction, the vice president now owns 24,138 shares of the company’s stock, valued at $190,207.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark P. Dentinger sold 7,110 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total value of $53,680.50. Following the completion of the transaction, the chief financial officer now directly owns 28,380 shares in the company, valued at approximately $214,269. The disclosure for this sale can be found here. 14.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. SECOR Capital Advisors LP bought a new position in InvenSense during the third quarter valued at approximately $104,000. Highbridge Capital Management LLC bought a new position in InvenSense during the third quarter valued at approximately $109,000. Penserra Capital Management LLC increased its position in InvenSense by 141.9% in the third quarter. Penserra Capital Management LLC now owns 16,045 shares of the company’s stock valued at $119,000 after buying an additional 9,411 shares during the period. BlackRock Inc. increased its position in InvenSense by 268.2% in the second quarter. BlackRock Inc. now owns 21,125 shares of the company’s stock valued at $130,000 after buying an additional 15,387 shares during the period. Finally, Thompson Investment Management Inc. increased its position in InvenSense by 5.9% in the second quarter. Thompson Investment Management Inc. now owns 23,475 shares of the company’s stock valued at $144,000 after buying an additional 1,300 shares during the period. 43.59% of the stock is currently owned by hedge funds and other institutional investors.
InvenSense (NYSE:INVN) opened at 8.16 on Friday. InvenSense has a 12-month low of $5.42 and a 12-month high of $12.23. The stock’s market cap is $766.81 million. The firm’s 50-day moving average price is $7.51 and its 200-day moving average price is $6.94.
InvenSense (NYSE:INVN) last released its earnings results on Thursday, November 3rd. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. InvenSense had a negative return on equity of 5.35% and a negative net margin of 15.81%. The company earned $79.80 million during the quarter, compared to analysts’ expectations of $79.67 million. During the same period in the prior year, the company posted $0.16 earnings per share. The company’s revenue was down 29.1% on a year-over-year basis. On average, equities analysts predict that InvenSense will post ($0.03) EPS for the current fiscal year.
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InvenSense, Inc (InvenSense) is engaged in designing, developing, marketing and selling of sensor system-on-chip (SoC), including accelerometers, gyroscopes and microphones for the mobile, wearable, smart home, gaming, industrial and automotive market segments. The Company delivers solutions based on its motion and sound technology; focused on solutions, such as smartphones, tablets, wearables, console and portable video gaming devices, digital television and set-top box remote controls, fitness accessories, sports equipment, digital still cameras, automobiles, ultra-books, laptops, hearing aids, stabilization systems, tools, navigation devices, remote controlled toys and other household consumer and industrial devices.
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