Stock Traders Buy High Volume of Put Options on InvenSense (INVN)
InvenSense (NASDAQ:INVN) was the target of some unusual options trading on Thursday. Stock investors acquired 3,795 put options on the company, Stock Ratings Network reports. This represents an increase of approximately 345% compared to the average volume of 852 put options.
A number of research firms have recently commented on INVN. Analysts at Maxim Group raised their price target on shares of InvenSense from $20.00 to $24.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray reiterated an “overweight” rating on shares of InvenSense in a research note to investors on Monday, November 11th. They now have a $25.00 price target on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of InvenSense from $20.00 to $22.00 in a research note to investors on Wednesday, October 30th. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.00.
InvenSense (NASDAQ:INVN) traded down 3.71% on Thursday, hitting $20.01. The stock had a trading volume of 3,126,091 shares. InvenSense has a one year low of $9.09 and a one year high of $21.82. The stock’s 50-day moving average is $17.23 and its 200-day moving average is $17.1. The company has a market cap of $1.750 billion and a price-to-earnings ratio of 33.57.
InvenSense (NASDAQ:INVN) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. 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 prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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