State Board of Administration of Florida Retirement System lowered its stake in InvenSense Inc. (NYSE:INVN) by 5.9% during the second quarter, Holdings Channel reports. The fund owned 44,943 shares of the company’s stock after selling 2,799 shares during the period. State Board of Administration of Florida Retirement System’s holdings in InvenSense were worth $276,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. raised its stake in 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 in the last quarter. Swiss National Bank raised its stake in InvenSense by 2.8% in the second quarter. Swiss National Bank now owns 139,900 shares of the company’s stock valued at $858,000 after buying an additional 3,800 shares in the last quarter. California State Teachers Retirement System raised its stake in InvenSense by 4.5% in the second quarter. California State Teachers Retirement System now owns 171,474 shares of the company’s stock valued at $1,051,000 after buying an additional 7,403 shares in the last quarter. Granahan Investment Management Inc. MA raised its stake in InvenSense by 1.0% in the first quarter. Granahan Investment Management Inc. MA now owns 1,015,285 shares of the company’s stock valued at $8,528,000 after buying an additional 10,000 shares in the last quarter. Finally, Motley Fool Wealth Management LLC raised its stake in InvenSense by 11.4% in the first quarter. Motley Fool Wealth Management LLC now owns 183,530 shares of the company’s stock valued at $1,542,000 after buying an additional 18,842 shares in the last quarter. Institutional investors and hedge funds own 40.10% of the company’s stock.
Shares of InvenSense Inc. (NYSE:INVN) traded down 0.14% during midday trading on Friday, hitting $7.21. The company’s stock had a trading volume of 869,430 shares. The stock’s 50 day moving average is $7.45 and its 200-day moving average is $7.05. InvenSense Inc. has a 52-week low of $5.42 and a 52-week high of $12.77. The firm’s market cap is $675.50 million.
InvenSense (NYSE:INVN) last issued its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. InvenSense had a negative net margin of 9.54% and a negative return on equity of 1.07%. The business had revenue of $60.64 million for the quarter, compared to analysts’ expectations of $60.26 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down 43.0% compared to the same quarter last year. Equities analysts predict that InvenSense Inc. will post $0.11 EPS for the current fiscal year.
Several analysts have issued reports on the company. Roth Capital assumed coverage on InvenSense in a research note on Wednesday, August 31st. They issued a “buy” rating and a $9.00 price objective on the stock. Pacific Crest restated an “overweight” rating on shares of InvenSense in a research note on Sunday, August 28th. 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. Finally, KeyCorp reaffirmed a “hold” rating on shares of InvenSense in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. InvenSense presently has a consensus rating of “Hold” and a consensus target price of $8.94.
In other InvenSense news, CFO Mark P. Dentinger sold 7,110 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $7.55, for a total transaction 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 Securities & Exchange Commission, which is available at 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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