“Recent, sharp underperformance (31% underperformance since 3Q18 results) which we attribute to investor misperceptions of INVE’s organic results is unjustified, in our view. INVE recently closed two acquisitions and announced new with two major banking customers. Given the recent acquisition of Viscount Systems core assets, we are conservatively raising CY19 revenue estimate by $4M. Maintain Buy rating and $8 price target.”,” Maxim Group’s analyst wrote.
Several other analysts have also commented on INVE. Zacks Investment Research raised shares of Identiv from a sell rating to a hold rating in a research report on Tuesday, September 25th. ValuEngine raised shares of Identiv from a buy rating to a strong-buy rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $8.65.
Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $20.02 million for the quarter, compared to analyst estimates of $19.55 million. Identiv had a negative net margin of 13.43% and a negative return on equity of 21.62%. As a group, analysts predict that Identiv will post -0.23 EPS for the current fiscal year.
In related news, Director Gary Kremen purchased 10,000 shares of the company’s stock in a transaction dated Thursday, December 6th. The shares were purchased at an average price of $5.00 per share, with a total value of $50,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of Identiv by 6.1% during the 3rd quarter. Royce & Associates LP now owns 813,663 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 46,597 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Identiv by 0.9% in the third quarter. Vanguard Group Inc now owns 605,033 shares of the technology company’s stock worth $3,606,000 after buying an additional 5,600 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Identiv by 33.1% in the third quarter. Essex Investment Management Co. LLC now owns 592,660 shares of the technology company’s stock worth $3,532,000 after buying an additional 147,346 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Identiv by 20.7% in the third quarter. Renaissance Technologies LLC now owns 399,939 shares of the technology company’s stock worth $2,384,000 after buying an additional 68,676 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Identiv by 3.7% in the second quarter. BlackRock Inc. now owns 283,663 shares of the technology company’s stock worth $1,098,000 after buying an additional 10,035 shares during the last quarter. 34.17% of the stock is currently owned by hedge funds and other institutional investors.
Identiv Company Profile
Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.
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