InvenSense Receives “Buy” Rating from Needham & Company (INVN)
InvenSense (NASDAQ:INVN)‘s stock had its “buy” rating restated by investment analysts at Needham & Company in a note issued to investors on Monday, Analyst Ratings Network.com reports. They currently have a $20.00 price target on the stock. Needham & Company’s target price suggests a potential upside of 13.64% from the company’s current price.
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, September 12th. 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 an average price target of $20.36.
InvenSense (NASDAQ:INVN) opened at 17.60 on Monday. InvenSense has a 1-year low of $9.09 and a 1-year high of $19.36. The stock’s 50-day moving average is $17.45 and its 200-day moving average is $13.8. The company has a market cap of $1.519 billion and a P/E ratio of 28.39.
InvenSense (NASDAQ:INVN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.14 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.09 earnings per share. InvenSense’s revenue was up 42.6% compared to the same quarter last year. On average, analysts predict that InvenSense will post $0.71 earnings per share for the current fiscal year.
In other InvenSense news, Director Timothy Wilson sold 30,000 shares of InvenSense stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $18.49, for a total transaction of $554,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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