InvenSense Receives New Coverage from Analysts at Canaccord Genuity (INVN)
Investment analysts at Canaccord Genuity assumed coverage on shares of InvenSense (NASDAQ:INVN) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. Canaccord Genuity’s target price would suggest a potential upside of 21.29% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of InvenSense from $22.00 to $28.00 in a research note on Thursday, July 31st. Separately, analysts at Evercore Partners raised their price target on shares of InvenSense from $25.00 to $32.00 in a research note on Thursday, July 31st. Finally, analysts at Robert W. Baird raised their price target on shares of InvenSense from $28.00 to $30.00 in a research note on Thursday, July 31st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $27.64.
InvenSense (NASDAQ:INVN) traded up 0.71% on Friday, hitting $24.08. 311,007 shares of the company’s stock traded hands. 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 $23.20 and a 200-day moving average of $21.2. The company’s market cap is $2.137 billion.
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 $0.76 EPS for the current fiscal year.
InvenSense, Inc (NASDAQ:INVN) is a provider of intelligent motion processing solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.