InvenSense Price Target Raised to $30.00 at Northland Securities (INVN)
Research analysts at Northland Securities lifted their target price on shares of InvenSense (NASDAQ:INVN) from $24.00 to $30.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price suggests a potential upside of 26.53% from the company’s current price.
A number of other analysts have also recently weighed in on INVN. Analysts at Ascendiant Capital Markets upgraded shares of InvenSense from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $29.00 price target on the stock. Separately, analysts at Pacific Crest raised their price target on shares of InvenSense from $26.00 to $28.00 in a research note on Wednesday. Finally, analysts at Roth Capital raised their price target on shares of InvenSense from $26.00 to $28.00 in a research note on Monday. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. InvenSense has a consensus rating of “Buy” and an average price target of $24.77.
InvenSense (NASDAQ:INVN) traded down 0.97% on Wednesday, hitting $23.48. The stock had a trading volume of 2,491,261 shares. InvenSense has a 52 week low of $15.20 and a 52 week high of $26.78. The stock has a 50-day moving average of $22.79 and a 200-day moving average of $21.13. The company has a market cap of $2.071 billion and a P/E ratio of 338.71. InvenSense also was the target of some unusual options trading on Tuesday. Stock traders purchased 16,522 put options on the company. This represents an increase of 692% compared to the average daily volume of 2,087 put options.
InvenSense (NASDAQ:INVN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.08. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $64.57 million. During the same quarter last year, the company posted $0.14 earnings per share. InvenSense’s revenue was up 19.3% compared to the same quarter last year. Analysts expect that InvenSense will post $0.71 EPS for the current fiscal year.
In other InvenSense news, VP Daniel Goehl unloaded 12,345 shares of InvenSense stock on the open market in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $24.95, for a total transaction of $308,007.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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