InvenSense (INVN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
InvenSense (NASDAQ:INVN) released its earnings data on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02, AnalystRatings.NET reports. The company had revenue of $70.90 million for the quarter, compared to the consensus estimate of $69.24 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 28.2% on a year-over-year basis.
Shares of InvenSense (NASDAQ:INVN) traded up 1.92% on Tuesday, hitting $18.62. 2,879,480 shares of the company’s stock traded hands. 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 $17.24 and its 200-day moving average is $13.59. The company has a market cap of $1.608 billion and a P/E ratio of 29.47.
A number of research firms have recently commented on INVN. Analysts at Maxim Group reiterated a “buy” rating on shares of InvenSense in a research note to investors on Monday. They now have a $23.00 price target on the stock. On a related note, analysts at Needham & Company reiterated a “buy” rating on shares of InvenSense in a research note to investors on Tuesday, October 15th. They now have a $20.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of InvenSense from $19.00 to $24.00 in a research note to investors on Tuesday, October 15th. They now have an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $21.00.
In other InvenSense news, CFO Alan Krock sold 25,000 shares of the stock on the open market in a transaction dated Friday, October 25th. The stock was sold at an average price of $19.07, for a total transaction of $476,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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