Goldman Sachs Lowers InvenSense to Neutral (INVN)
InvenSense (NASDAQ:INVN) was downgraded by investment analysts at Goldman Sachs from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $25.00 price objective on the stock. Goldman Sachs’ price target would suggest a potential upside of 0.04% from the company’s current price. The analysts noted that the move was a valuation call.
InvenSense (NASDAQ:INVN) traded down 2.02% on Monday, hitting $24.4856. The stock had a trading volume of 1,676,745 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 $23.70 and a 200-day moving average of $21.4. The company’s market cap is $2.176 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 $0.77 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity initiated coverage on shares of InvenSense in a research note on Friday, August 8th. They set a “buy” rating and a $29.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.47.
InvenSense, Inc (NASDAQ:INVN) is a provider of intelligent motion processing solutions.
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