InvenSense Inc (INVN) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of InvenSense Inc (NYSE:INVN) have received an average rating of “Hold” from the ten analysts that are presently covering the firm. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $11.14.
Separately, Canaccord Genuity restated a “hold” rating and issued a $13.00 price target on shares of InvenSense in a research report on Thursday.
InvenSense (NYSE:INVN) remained flat at $12.99 during midday trading on Thursday. The firm’s market cap is $1.23 billion. The company’s 50-day moving average price is $12.79 and its 200 day moving average price is $11.49. InvenSense has a 52-week low of $5.50 and a 52-week high of $13.00.
In other InvenSense news, VP Daniel Goehl sold 8,020 shares of InvenSense stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.98, for a total value of $104,099.60. Following the transaction, the vice president now owns 33,307 shares in the company, valued at $432,324.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark P. Dentinger sold 11,308 shares of InvenSense stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $12.98, for a total transaction of $146,777.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,029 shares of company stock worth $311,896. 14.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. CNH Partners LLC purchased a new position in InvenSense during the fourth quarter worth approximately $22,765,000. Sand Grove Capital Management LLP purchased a new position in InvenSense during the fourth quarter worth approximately $13,924,000. Gabelli Funds LLC purchased a new position in InvenSense during the fourth quarter worth approximately $13,083,000. Renaissance Technologies LLC purchased a new position in InvenSense during the first quarter worth approximately $11,344,000. Finally, Allianz Asset Management AG purchased a new position in InvenSense during the fourth quarter worth approximately $10,899,000. Hedge funds and other institutional investors own 46.50% of the company’s stock.
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InvenSense Company Profile
InvenSense, Inc (InvenSense) is engaged in designing, developing, marketing and selling of sensor system-on-chip (SoC), including accelerometers, gyroscopes and microphones for the mobile, wearable, smart home, gaming, industrial and automotive market segments. The Company delivers solutions based on its motion and sound technology; focused on solutions, such as smartphones, tablets, wearables, console and portable video gaming devices, digital television and set-top box remote controls, fitness accessories, sports equipment, digital still cameras, automobiles, ultra-books, laptops, hearing aids, stabilization systems, tools, navigation devices, remote controlled toys and other household consumer and industrial devices.
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