Topeka Capital Markets Reiterates “Buy” Rating for InvenSense (INVN)
InvenSense (NASDAQ:INVN)‘s stock had its “buy” rating reiterated by stock analysts at Topeka Capital Markets in a report issued on Wednesday. They currently have a $27.00 price objective on the stock, up from their previous price objective of $22.00. Topeka Capital Markets’ price objective points to a potential upside of 17.75% from the company’s current price.
InvenSense (NASDAQ:INVN) traded down 3.29% on Wednesday, hitting $22.93. The stock had a trading volume of 7,219,029 shares. InvenSense has a 52-week low of $15.20 and a 52-week high of $26.78. The stock’s 50-day moving average is $22.79 and its 200-day moving average is $21.13. The company has a market cap of $2.022 billion and a P/E ratio of 338.71. InvenSense also was the target of unusually large options trading on Tuesday. Investors purchased 16,522 put options on the stock. This represents an increase of approximately 692% compared to the average daily volume of 2,087 put options.
InvenSense (NASDAQ:INVN) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts predict that InvenSense will post $0.71 earnings per share for the current fiscal year.
In other InvenSense news, VP Daniel Goehl sold 12,345 shares of the company’s stock 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 document filed with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley upgraded shares of InvenSense to a “buy” rating in a research note on Wednesday. They now have a $29.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of InvenSense from $24.00 to $28.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of InvenSense from $24.00 to $30.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. InvenSense presently has a consensus rating of “Buy” and an average target price of $25.93.
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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