Swiss National Bank Boosts Position in InvenSense Inc. (INVN)
Swiss National Bank boosted its stake in shares of InvenSense Inc. (NYSE:INVN) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,900 shares of the company’s stock after buying an additional 3,800 shares during the period. Swiss National Bank owned approximately 0.15% of InvenSense worth $858,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. 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 during 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 during the last quarter. 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 during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in InvenSense during the second quarter valued at approximately $167,000. Finally, Shelton Capital Management raised its stake in InvenSense by 75.0% in the second quarter. Shelton Capital Management now owns 63,000 shares of the company’s stock valued at $386,000 after buying an additional 27,000 shares during the last quarter. 40.10% of the stock is currently owned by hedge funds and other institutional investors.
InvenSense Inc. (NYSE:INVN) traded down 1.44% during mid-day trading on Friday, reaching $7.52. 501,722 shares of the company’s stock were exchanged. The stock’s market capitalization is $704.54 million. The firm’s 50-day moving average is $7.51 and its 200 day moving average is $7.08. InvenSense Inc. has a 1-year low of $5.42 and a 1-year high of $12.77.
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. Analysts forecast that InvenSense Inc. will post $0.11 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on INVN shares. Roth Capital started coverage on shares of InvenSense in a research note on Wednesday, August 31st. They set a “buy” rating and a $9.00 target price on the stock. Pacific Crest reissued an “overweight” rating on shares of InvenSense in a research note on Sunday, August 28th. Northland Securities raised shares of InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Friday, July 29th. Finally, KeyCorp reissued a “hold” rating on shares of InvenSense in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $8.94.
In other news, CFO Mark P. Dentinger sold 7,110 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $7.55, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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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