Needham & Company Reiterates “Buy” Rating for InvenSense (INVN)
InvenSense (NASDAQ:INVN)‘s stock had its “buy” rating reiterated by analysts at Needham & Company in a research report issued to clients and investors on Thursday, AR Network reports. They currently have a $20.00 target price on the stock. Needham & Company’s price objective would suggest a potential upside of 10.62% from the stock’s previous close.
InvenSense (NASDAQ:INVN) traded down 0.83% on Thursday, hitting $17.93. 362,308 shares of the company’s stock traded hands. InvenSense has a 1-year low of $9.09 and a 1-year high of $18.76. The stock’s 50-day moving average is $17.09 and its 200-day moving average is $13.51. The company has a market cap of $1.548 billion and a P/E ratio of 29.16. InvenSense also was the recipient of some unusual options trading on Monday. Stock investors bought 6,993 put options on the stock. This represents an increase of approximately 729% compared to the average daily volume of 844 put options.
InvenSense (NASDAQ:INVN) last announced its earnings results on Tuesday, July 30th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.01. The company had revenue of $55.90 million for the quarter, compared to the consensus estimate of $54.43 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 42.6% on a year-over-year basis. Analysts expect that InvenSense will post $0.70 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on INVN. Analysts at Maxim Group raised their price target on shares of InvenSense (NASDAQ:INVN) from $20.00 to $21.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird upgraded shares of InvenSense (NASDAQ:INVN) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 4th. They now have a $23.00 price target on the stock, up previously from $16.00.
Eleven analysts have rated the stock with a buy rating, InvenSense presently has a consensus rating of “Buy” and a consensus target price of $20.36.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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