InvenSense Inc (INVN) Given Consensus Recommendation of “Hold” by Brokerages
InvenSense Inc (NYSE:INVN) has earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.14.
Separately, Canaccord Genuity reiterated a “hold” rating and issued a $13.00 price objective on shares of InvenSense in a research note on Thursday, May 18th.
Shares of InvenSense (NYSE INVN) remained flat at $12.99 on Friday. The company had a trading volume of 5,619,013 shares. InvenSense has a 52-week low of $5.50 and a 52-week high of $13.00. The firm’s 50-day moving average is $12.99 and its 200-day moving average is $12.59.
In other news, CEO Behrooz L. Abdi sold 4,701 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $12.98, for a total value of $61,018.98. Following the sale, the chief executive officer now directly owns 250,315 shares in the company, valued at approximately $3,249,088.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark P. Dentinger sold 11,308 shares of the company’s 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 $146,777.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,029 shares of company stock worth $311,896. Corporate insiders own 14.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co bought a new stake in InvenSense during the first quarter valued at $1,025,000. State Street Corp raised its stake in InvenSense by 1.3% in the first quarter. State Street Corp now owns 1,452,240 shares of the semiconductor company’s stock valued at $18,346,000 after buying an additional 19,023 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in InvenSense by 14.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 379,806 shares of the semiconductor company’s stock valued at $4,797,000 after buying an additional 48,234 shares in the last quarter. Renaissance Technologies LLC bought a new stake in InvenSense during the first quarter valued at $11,344,000. Finally, Geode Capital Management LLC raised its stake in InvenSense by 5.4% in the first quarter. Geode Capital Management LLC now owns 665,271 shares of the semiconductor company’s stock worth $8,402,000 after buying an additional 34,310 shares during the period. Institutional investors own 46.50% of the company’s stock.
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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