InvenSense PT Raised to $20.00 at Pacific Crest (INVN)
Stock analysts at Pacific Crest hoisted their price objective on shares of InvenSense (NASDAQ:INVN) from $19.00 to $20.00 in a report issued on Thursday, American Banking & Market News reports. Pacific Crest’s price objective would suggest a potential upside of 1.32% from the stock’s previous close.
A number of other firms have also 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, January 2nd. They now have a “buy” rating on the stock. 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. InvenSense presently has an average rating of “Buy” and an average price target of $21.40.
InvenSense (NASDAQ:INVN) traded up 4.22% during mid-day trading on Thursday, hitting $19.74. The stock had a trading volume of 6,629,639 shares. InvenSense has a 52-week low of $9.09 and a 52-week high of $21.82. The stock has a 50-day moving average of $19.0 and a 200-day moving average of $17.89. The company has a market cap of $1.726 billion and a P/E ratio of 30.60.
InvenSense (NASDAQ:INVN) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.03. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $66.84 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts predict that InvenSense will post $0.50 earnings per share for the current fiscal year.
In other InvenSense news, CFO Alan Krock sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $20.40, for a total transaction of $510,000.00. The sale was disclosed in a filing 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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