Jennison Associates LLC reduced its stake in shares of InvenSense Inc. (NYSE:INVN) by 46.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,091 shares of the company’s stock after selling 57,273 shares during the period. Jennison Associates LLC owned 0.07% of InvenSense worth $490,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of InvenSense by 268.2% in the second quarter. BlackRock Inc. now owns 21,125 shares of the company’s stock valued at $130,000 after buying an additional 15,387 shares during the period. Thompson Investment Management Inc. increased its stake 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 period. BNP Paribas Arbitrage SA increased its stake in shares of InvenSense by 23.3% in the third quarter. BNP Paribas Arbitrage SA now owns 19,609 shares of the company’s stock valued at $145,000 after buying an additional 3,701 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of InvenSense during the second quarter valued at about $167,000. Finally, UBS Oconnor LLC increased its stake in shares of InvenSense by 33.1% in the second quarter. UBS Oconnor LLC now owns 32,331 shares of the company’s stock valued at $198,000 after buying an additional 8,037 shares during the period. 43.59% of the stock is owned by institutional investors.
InvenSense Inc. (NYSE:INVN) opened at 8.16 on Friday. The company’s market capitalization is $766.81 million. The company’s 50-day moving average price is $7.51 and its 200 day moving average price is $6.94. InvenSense Inc. has a 52 week low of $5.42 and a 52 week high of $12.23.
InvenSense (NYSE:INVN) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $79.80 million for the quarter, compared to analyst estimates of $79.67 million. InvenSense had a negative net margin of 15.81% and a negative return on equity of 5.35%. The firm’s quarterly revenue was down 29.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts anticipate that InvenSense Inc. will post ($0.03) EPS for the current year.
INVN has been the subject of several recent research reports. Pacific Crest reaffirmed a “buy” rating and issued a $9.00 price objective on shares of InvenSense in a research report on Friday, November 4th. 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. Benchmark Co. set a $8.00 target price on InvenSense and gave the company a “hold” rating in a research note on Sunday, November 6th. Finally, Zacks Investment Research cut InvenSense from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $8.30.
In related news, CFO Mark P. Dentinger sold 7,110 shares of the firm’s 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 transaction, the chief financial officer now directly owns 28,380 shares of the company’s stock, valued at approximately $214,269. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel Goehl sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $7.88, for a total value of $29,550.00. Following the completion of the transaction, the vice president now directly owns 24,138 shares in the company, valued at $190,207.44. The disclosure for this sale can be found here. 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.