InvenSense Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:INVN)
Shares of InvenSense (NASDAQ:INVN) have earned a consensus rating of “Buy” from the fifteen analysts that are presently covering the stock, AnalystRatingsNetwork.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $27.47.
A number of research firms have recently commented on INVN. Analysts at Goldman Sachs downgraded shares of InvenSense from a “buy” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $25.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, 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.
In other InvenSense news, CFO Alan Krock sold 1,666 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $24.70, for a total value of $41,150.20. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of InvenSense (NASDAQ:INVN) opened at 25.56 on Thursday. 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 $24.09 and its 200-day moving average is $21.67. The company’s market cap is $2.272 billion.
InvenSense (NASDAQ:INVN) last posted its quarterly 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 $0.77 earnings per share for the current fiscal year.
InvenSense, Inc (NASDAQ:INVN) is a provider of intelligent motion processing solutions.
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