ING Groep NV maintained its position in InvenSense Inc. (NYSE:INVN) during the second quarter, Holdings Channel reports. The institutional investor owned 158,740 shares of the company’s stock at the end of the second quarter. ING Groep NV’s holdings in InvenSense were worth $973,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Artemis Investment Management LLP purchased a new stake in InvenSense during the second quarter valued at about $3,303,000. Bank of Montreal Can purchased a new stake in InvenSense during the second quarter valued at about $420,000. Nordea Investment Management AB raised its stake in InvenSense by 98.9% in the second quarter. Nordea Investment Management AB now owns 263,700 shares of the company’s stock valued at $1,616,000 after buying an additional 131,100 shares in the last quarter. Royal Bank of Canada raised its stake in InvenSense by 232.6% in the first quarter. Royal Bank of Canada now owns 22,332 shares of the company’s stock valued at $187,000 after buying an additional 39,175 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in InvenSense by 16.8% in the first quarter. Legal & General Group Plc now owns 14,737 shares of the company’s stock valued at $122,000 after buying an additional 2,124 shares in the last quarter. Institutional investors own 40.10% of the company’s stock.
Shares of InvenSense Inc. (NYSE:INVN) traded down 0.79% on Friday, reaching $7.57. The company had a trading volume of 864,368 shares. InvenSense Inc. has a one year low of $5.42 and a one year high of $12.77. The company has a 50-day moving average price of $7.50 and a 200-day moving average price of $7.07. The firm’s market cap is $709.23 million.
InvenSense (NYSE:INVN) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.26 million. InvenSense had a negative return on equity of 1.07% and a negative net margin of 9.54%. InvenSense’s quarterly revenue was down 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, analysts expect that InvenSense Inc. will post $0.11 earnings per share for the current fiscal year.
Several research firms recently issued reports on INVN. Pacific Crest raised InvenSense from a “sector weight” rating to an “overweight” rating and upped their price target for the company from $6.80 to $9.00 in a research report on Friday, August 12th. Northland Securities raised InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Friday, July 29th. KeyCorp reaffirmed a “hold” rating on shares of InvenSense in a research report on Wednesday, July 6th. Finally, Roth Capital assumed coverage on InvenSense in a research report on Wednesday, August 31st. They issued a “buy” rating and a $9.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.94.
In related news, CFO Mark P. Dentinger sold 7,110 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total value of $53,680.50. Following the sale, the chief financial officer now owns 28,380 shares of the company’s stock, valued at approximately $214,269. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.20% of the stock is owned by corporate 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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