Wall Street brokerages expect Identiv Inc (NASDAQ:INVE) to announce $20.52 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Identiv’s earnings, with estimates ranging from $19.94 million to $21.10 million. Identiv posted sales of $16.56 million during the same quarter last year, which suggests a positive year over year growth rate of 23.9%. The business is expected to announce its next quarterly earnings results on Thursday, March 14th.
On average, analysts expect that Identiv will report full year sales of $77.36 million for the current fiscal year, with estimates ranging from $76.78 million to $77.94 million. For the next year, analysts anticipate that the business will report sales of $88.70 million, with estimates ranging from $88.13 million to $89.27 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Identiv.
Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $20.02 million for the quarter, compared to analyst estimates of $19.55 million. Identiv had a negative return on equity of 21.62% and a negative net margin of 13.43%.
INVE has been the topic of a number of research analyst reports. Northland Securities restated a “buy” rating and issued a $10.00 target price on shares of Identiv in a research report on Sunday, August 12th. ValuEngine upgraded Identiv from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Lake Street Capital assumed coverage on Identiv in a research report on Tuesday, September 4th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Zacks Investment Research raised Identiv from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a research report on Wednesday, November 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $8.45.
In related news, Director Gary Kremen bought 17,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were purchased at an average price of $5.14 per share, for a total transaction of $87,380.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of INVE. Dimensional Fund Advisors LP increased its position in shares of Identiv by 107.6% during the third quarter. Dimensional Fund Advisors LP now owns 29,669 shares of the technology company’s stock worth $177,000 after acquiring an additional 15,378 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Identiv in the third quarter valued at approximately $205,000. BlackRock Inc. boosted its stake in Identiv by 3.7% in the second quarter. BlackRock Inc. now owns 283,663 shares of the technology company’s stock valued at $1,098,000 after acquiring an additional 10,035 shares during the period. Renaissance Technologies LLC boosted its position in shares of Identiv by 20.7% during the third quarter. Renaissance Technologies LLC now owns 399,939 shares of the technology company’s stock worth $2,384,000 after buying an additional 68,676 shares during the period. Finally, Essex Investment Management Co. LLC boosted its position in shares of Identiv by 33.1% during the third quarter. Essex Investment Management Co. LLC now owns 592,660 shares of the technology company’s stock worth $3,532,000 after buying an additional 147,346 shares during the period. Hedge funds and other institutional investors own 31.69% of the company’s stock.
NASDAQ INVE opened at $5.28 on Monday. Identiv has a fifty-two week low of $2.84 and a fifty-two week high of $6.87. The company has a current ratio of 1.59, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. The firm has a market cap of $81.60 million, a price-to-earnings ratio of -13.89 and a beta of 0.22.
Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Identiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Identiv and related companies with MarketBeat.com's FREE daily email newsletter.