InvenSense Target of Unusually High Options Trading (INVN)
InvenSense (NASDAQ:INVN) was the target of unusually large options trading activity on Friday. Stock investors acquired 5,334 put options on the stock, Stock Ratings Network reports. This represents an increase of approximately 331% compared to the typical daily volume of 1,238 put options.
A number of research firms have recently commented on INVN. Analysts at Needham & Company reiterated a “buy” rating on shares of InvenSense (NASDAQ:INVN) in a research note to investors on Thursday. They now have a $20.00 price target on the stock. Separately, 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. Finally, 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 research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $20.36.
InvenSense (NASDAQ:INVN) traded down 1.81% during mid-day trading on Friday, hitting $18.41. 3,324,849 shares of the company’s stock traded hands. InvenSense has a 1-year low of $9.09 and a 1-year high of $18.87. The stock has a 50-day moving average of $17.1 and a 200-day moving average of $13.55. The company has a market cap of $1.589 billion and a price-to-earnings ratio of 30.24.
InvenSense (NASDAQ:INVN) last posted its quarterly 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 prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 42.6% on a year-over-year basis. Analysts expect that InvenSense will post $0.71 EPS for the current fiscal year.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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