InvenSense Inc. (INVN) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in shares of InvenSense Inc. (NYSE:INVN) by 23.3% during the third quarter, Holdings Channel reports. The firm owned 19,609 shares of the company’s stock after buying an additional 3,701 shares during the period. BNP Paribas Arbitrage SA’s holdings in InvenSense were worth $145,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc increased its position in InvenSense by 16.8% in the first quarter. Legal & General Group Plc now owns 14,737 shares of the company’s stock worth $122,000 after buying an additional 2,124 shares during the last quarter. BlackRock Inc. increased its position in InvenSense by 268.2% in the second quarter. BlackRock Inc. now owns 21,125 shares of the company’s stock worth $130,000 after buying an additional 15,387 shares during the last quarter. Royal Bank of Canada increased its position in InvenSense by 232.6% in the first quarter. Royal Bank of Canada now owns 22,332 shares of the company’s stock worth $187,000 after buying an additional 39,175 shares during the last quarter. Thompson Investment Management Inc. increased its position in InvenSense by 5.9% in the second quarter. Thompson Investment Management Inc. now owns 23,475 shares of the company’s stock worth $144,000 after buying an additional 1,300 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in InvenSense during the second quarter worth about $167,000. Hedge funds and other institutional investors own 40.10% of the company’s stock.
InvenSense (NYSE:INVN) last announced its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $60.26 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. InvenSense’s revenue was down 43.0% compared to the same quarter last year.
A number of research firms recently weighed in on INVN. Roth Capital began coverage on shares of InvenSense in a report on Wednesday, August 31st. They issued a “buy” rating and a $9.00 price objective on the stock. Pacific Crest reissued an “overweight” rating on shares of InvenSense in a research note on Sunday, August 28th. KeyCorp reissued a “hold” rating on shares of InvenSense in a research note on Wednesday, July 6th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently 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 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 owns 28,380 shares of the company’s stock, valued at $214,269. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.20% of the company’s stock.
InvenSense Company Profile
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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