Artemis Investment Management LLP purchased a new position in shares of InvenSense Inc. (NYSE:INVN) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 539,276 shares of the company’s stock, valued at approximately $3,303,000.
Several other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in InvenSense by 199.6% in the first quarter. JPMorgan Chase & Co. now owns 1,459,975 shares of the company’s stock worth $12,264,000 after buying an additional 972,719 shares in the last quarter. Spark Investment Management LLC raised its stake in InvenSense by 181.9% in the first quarter. Spark Investment Management LLC now owns 1,305,600 shares of the company’s stock worth $10,967,000 after buying an additional 842,400 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in InvenSense during the first quarter worth $7,038,000. HBK Investments L P raised its stake in InvenSense by 201.0% in the first quarter. HBK Investments L P now owns 436,700 shares of the company’s stock worth $3,668,000 after buying an additional 291,600 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in InvenSense by 35.3% in the first quarter. Pictet Asset Management Ltd. now owns 959,394 shares of the company’s stock worth $7,493,000 after buying an additional 250,128 shares in the last quarter. Hedge funds and other institutional investors own 40.10% of the company’s stock.
Shares of InvenSense Inc. (NYSE:INVN) traded down 2.06% during midday trading on Thursday, reaching $7.12. The company’s stock had a trading volume of 1,529,325 shares. The company has a 50 day moving average of $7.56 and a 200-day moving average of $7.09. InvenSense Inc. has a 52 week low of $5.42 and a 52 week high of $12.77. The stock’s market capitalization is $667.07 million.
InvenSense (NYSE:INVN) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.26 million. InvenSense had a negative net margin of 9.54% and a negative return on equity of 1.07%. InvenSense’s quarterly revenue was down 43.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. Equities research analysts predict that InvenSense Inc. will post $0.11 earnings per share for the current year.
A number of research firms have weighed in on INVN. Roth Capital began coverage on InvenSense in a report on Wednesday, August 31st. They set a “buy” rating and a $9.00 target price for the company. Pacific Crest reaffirmed an “overweight” rating on shares of InvenSense in a research report on Sunday, August 28th. Northland Securities raised InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Friday, July 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of InvenSense in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $8.94.
In other InvenSense news, CFO Mark P. Dentinger sold 7,110 shares of InvenSense stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $7.55, for a total value of $53,680.50. Following the transaction, the chief financial officer now directly owns 28,380 shares in the company, valued at $214,269. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.20% of the stock is currently owned by company insiders.
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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