California State Teachers Retirement System increased its stake in shares of InvenSense Inc. (NYSE:INVN) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 171,474 shares of the company’s stock after buying an additional 7,403 shares during the period. California State Teachers Retirement System owned approximately 0.18% of InvenSense worth $1,051,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Shelton Capital Management boosted its position in InvenSense by 75.0% in the second quarter. Shelton Capital Management now owns 63,000 shares of the company’s stock worth $386,000 after buying an additional 27,000 shares during the last quarter. Nordea Investment Management AB boosted its position in InvenSense by 98.9% in the second quarter. Nordea Investment Management AB now owns 263,700 shares of the company’s stock worth $1,616,000 after buying an additional 131,100 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in InvenSense during the second quarter worth about $167,000. Artemis Investment Management LLP acquired a new position in InvenSense during the second quarter worth about $3,303,000. Finally, Bank of Montreal Can acquired a new position in InvenSense during the second quarter worth about $420,000. 40.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of InvenSense Inc. (NYSE:INVN) traded down 3.05% on Monday, reaching $7.30. The company had a trading volume of 1,145,850 shares. The company’s market capitalization is $683.93 million. InvenSense Inc. has a 52 week low of $5.42 and a 52 week high of $12.77. The company has a 50 day moving average of $7.51 and a 200-day moving average of $7.11.
InvenSense (NYSE:INVN) last posted its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company earned $60.64 million during the quarter, compared to analysts’ expectations of $60.26 million. InvenSense had a negative return on equity of 1.07% and a negative net margin of 9.54%. The firm’s quarterly revenue was down 43.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts predict that InvenSense Inc. will post $0.11 earnings per share for the current fiscal year.
INVN has been the subject of a number of recent analyst reports. Roth Capital initiated coverage on InvenSense in a report on Wednesday, August 31st. They set a “buy” rating and a $9.00 price objective for the company. KeyCorp restated a “hold” rating on shares of InvenSense in a report on Wednesday, July 6th. Pacific Crest restated an “overweight” rating on shares of InvenSense in a report on Sunday, August 28th. Finally, Northland Securities upgraded InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Friday, July 29th. 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. The stock has a consensus rating of “Hold” and a consensus price target of $8.94.
In other InvenSense news, CFO Mark P. Dentinger sold 7,110 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total transaction of $53,680.50. Following the completion of the sale, the chief financial officer now owns 28,380 shares of the company’s stock, valued at $214,269. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 14.20% of the company’s stock.
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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