InvenSense Hits New 12-Month High on Analyst Upgrade (INVN)
Shares of InvenSense (NASDAQ:INVN) reached a new 52-week high on Tuesday after Robert W. Baird raised their price target on the stock from $20.00 to $23.00, American Banking News.com reports. The stock traded as high as $22.09 and last traded at $21.57, with a volume of 5,898,398 shares changing hands. The stock had previously closed at $19.58.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs reiterated a “buy” rating on shares of InvenSense in a research note on Thursday, January 30th. Separately, analysts at Oppenheimer raised their price target on shares of InvenSense from $1.00 to $20.00 in a research note on Thursday, January 30th. Finally, analysts at Pacific Crest raised their price target on shares of InvenSense from $19.00 to $20.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.40.
In other InvenSense news, VP Stephen Lloyd sold 10,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $19.50, for a total transaction of $195,000.00. Following the completion of the sale, the vice president now directly owns 37,000 shares in the company, valued at approximately $721,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The stock has a 50-day moving average of $19.58 and a 200-day moving average of $18.08. The company has a market cap of $1.894 billion and a price-to-earnings ratio of 46.73.
InvenSense (NASDAQ:INVN) last released its earnings data on Wednesday, January 29th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.19 earnings per share. InvenSense’s revenue was up 13.2% compared to the same quarter last year. Analysts expect that InvenSense will post $0.60 EPS for the current fiscal year.
InvenSense, Inc designs and fabricates micro-electro-mechanical systems (NASDAQ:INVN) technologies.
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