Insider Selling: InvenSense VP Unloads 10,000 Shares of Stock (INVN)
InvenSense (NASDAQ:INVN) VP Stephen Lloyd sold 10,000 shares of InvenSense stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $20.46, for a total value of $204,600.00. Following the completion of the transaction, the vice president now directly owns 47,327 shares of the company’s stock, valued at approximately $968,310. The sale was disclosed in a legal filing with the SEC, which is available at this link.
InvenSense (NASDAQ:INVN) traded down 0.25% during mid-day trading on Tuesday, hitting $20.16. 1,210,544 shares of the company’s stock traded hands. InvenSense has a 52 week low of $12.80 and a 52 week high of $24.34. The stock’s 50-day moving average is $19.4 and its 200-day moving average is $19.93. The company has a market cap of $1.778 billion and a price-to-earnings ratio of 288.71.
InvenSense (NASDAQ:INVN) last released its earnings data on Thursday, May 1st. The company reported $0.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.10 by $0.03. The company had revenue of $59.00 million for the quarter, compared to the consensus estimate of $57.42 million. During the same quarter last year, the company posted $0.15 earnings per share. InvenSense’s revenue was up 6.9% 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.
A number of research firms have recently commented on INVN. Analysts at Imperial Capital initiated coverage on shares of InvenSense in a research note on Tuesday, May 13th. They set an “outperform” rating and a $21.00 price target on the stock. Separately, analysts at Topeka Capital Markets cut their price target on shares of InvenSense from $25.00 to $22.00 in a research note on Friday, May 2nd. Finally, analysts at Pacific Crest cut their price target on shares of InvenSense from $27.00 to $22.00 in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. InvenSense has an average rating of “Buy” and a consensus price target of $22.73.
InvenSense, Inc (NASDAQ:INVN) is engaged in devices for the motion interface market that detect and track an object’s motion in three-dimensional space.
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