Private Advisor Group LLC reduced its stake in InvenSense Inc. (NYSE:INVN) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,983 shares of the company’s stock after selling 1,418 shares during the period. Private Advisor Group LLC’s holdings in InvenSense were worth $104,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in INVN. Legal & General Group Plc increased its position in shares of 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 during the last quarter. Thompson Investment Management Inc. increased its position in shares of InvenSense by 5.9% in the second quarter. Thompson Investment Management Inc. now owns 23,475 shares of the company’s stock valued at $144,000 after buying an additional 1,300 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of InvenSense during the second quarter valued at $167,000. Royal Bank of Canada increased its position in shares of 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 during the last quarter. Finally, Cowen Prime Services LLC increased its position in shares of InvenSense by 7.5% in the second quarter. Cowen Prime Services LLC now owns 32,800 shares of the company’s stock valued at $201,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 40.10% of the company’s stock.
Shares of InvenSense Inc. (NYSE:INVN) traded down 1.10% during mid-day trading on Tuesday, hitting $7.22. The company’s stock had a trading volume of 248,833 shares. The company’s market cap is $676.43 million. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $7.10. InvenSense Inc. has a 12-month low of $5.42 and a 12-month high of $12.77.
InvenSense (NYSE:INVN) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. InvenSense had a negative return on equity of 1.07% and a negative net margin of 9.54%. The firm had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.26 million. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was down 43.0% compared to the same quarter last year. On average, equities research analysts forecast that InvenSense Inc. will post $0.11 EPS for the current year.
Several research analysts have recently weighed in on the company. Pacific Crest reaffirmed an “overweight” rating on shares of InvenSense in a research note on Sunday, August 28th. Roth Capital assumed coverage on InvenSense in a research note on Wednesday, August 31st. They set a “buy” rating and a $9.00 target price for the company. Northland Securities raised InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Friday, July 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of InvenSense in a research note on Wednesday, July 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.94.
In related news, CFO Mark P. Dentinger sold 7,110 shares of InvenSense stock in a transaction that occurred 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 directly owns 28,380 shares in the company, valued at $214,269. The transaction was disclosed in a document filed with the SEC, which can be accessed 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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