Identiv, Inc. (INVE) Expected to Announce Quarterly Sales of $17.66 Million
Brokerages predict that Identiv, Inc. (NASDAQ:INVE) will post $17.66 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Identiv’s earnings. The lowest sales estimate is $17.17 million and the highest is $18.14 million. Identiv posted sales of $15.56 million during the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The company is expected to announce its next earnings report on Wednesday, November 8th.
On average, analysts expect that Identiv will report full year sales of $17.66 million for the current year. For the next financial year, analysts forecast that the firm will report sales of $74.01 million per share, with estimates ranging from $73.86 million to $74.16 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Identiv.
Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Thursday, August 10th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $14.84 million during the quarter, compared to the consensus estimate of $14.71 million. Identiv had a negative net margin of 7.53% and a negative return on equity of 50.00%. During the same period in the prior year, the firm earned ($0.27) EPS.
A number of brokerages recently weighed in on INVE. Zacks Investment Research downgraded shares of Identiv from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Northland Securities set a $10.00 target price on shares of Identiv and gave the stock a “buy” rating in a report on Monday, August 7th.
Shares of Identiv (NASDAQ:INVE) opened at 4.81 on Friday. The company’s 50 day moving average is $5.04 and its 200 day moving average is $5.56. The company’s market capitalization is $67.67 million. Identiv has a 12-month low of $1.95 and a 12-month high of $7.81.
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In related news, Director Gary Kremen acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $49,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.30% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in INVE. EAM Investors LLC acquired a new position in shares of Identiv in the first quarter valued at $688,000. Royce & Associates LP increased its holdings in shares of Identiv by 10.1% in the first quarter. Royce & Associates LP now owns 656,589 shares of the technology company’s stock valued at $4,636,000 after purchasing an additional 60,000 shares during the last quarter. UBS Group AG increased its holdings in shares of Identiv by 11.3% in the first quarter. UBS Group AG now owns 15,579 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,579 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Identiv by 18.5% in the first quarter. Renaissance Technologies LLC now owns 278,359 shares of the technology company’s stock valued at $1,965,000 after purchasing an additional 43,419 shares during the last quarter. Finally, Hollencrest Securities LLC increased its holdings in shares of Identiv by 11.3% in the second quarter. Hollencrest Securities LLC now owns 29,605 shares of the technology company’s stock valued at $155,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 33.43% of the company’s stock.
Identiv Company Profile
Identiv, Inc is a global security technology company. The Company operates through four segments: Physical access control systems (PACS), Identity, Credentials and All Other. PACS segment provides solutions and services that enable the issuance, management and use of secure identity credentials in diverse markets.
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