Mozafar Maghsoudnia Sells 2,844 Shares of InvenSense Inc. (INVN) Stock

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InvenSense Inc. (NYSE:INVN) VP Mozafar Maghsoudnia sold 2,844 shares of InvenSense stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $7.73, for a total transaction of $21,984.12. Following the completion of the transaction, the vice president now directly owns 59,084 shares of the company’s stock, valued at approximately $456,719.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Mozafar Maghsoudnia also recently made the following trade(s):

On Tuesday, August 16th, Mozafar Maghsoudnia sold 1,801 shares of InvenSense stock. The stock was sold at an average price of $8.39, for a total transaction of $15,110.39.

InvenSense Inc. (NYSE:INVN) opened at 7.98 on Tuesday. The stock has a 50 day moving average of $7.39 and a 200 day moving average of $7.12. InvenSense Inc. has a 12 month low of $5.42 and a 12 month high of $12.77. The firm’s market capitalization is $747.64 million.

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InvenSense (NYSE:INVN) last posted its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm earned $60.64 million during the quarter, compared to analyst estimates of $60.26 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue was down 43.0% compared to the same quarter last year. On average, equities analysts predict that InvenSense Inc. will post $0.11 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. 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 during the last quarter. Renaissance Technologies LLC purchased a new stake in InvenSense during the first quarter valued at about $1,005,000. Pictet Asset Management Ltd. raised its stake in InvenSense by 35.3% in the first quarter. Pictet Asset Management Ltd. now owns 959,394 shares of the company’s stock valued at $7,493,000 after buying an additional 250,128 shares during the last quarter. Spark Investment Management LLC raised its stake in InvenSense by 181.9% in the first quarter. Spark Investment Management LLC now owns 1,305,600 shares of the company’s stock valued at $10,967,000 after buying an additional 842,400 shares during the last quarter. Finally, HBK Investments L P raised its stake in InvenSense by 201.0% in the first quarter. HBK Investments L P now owns 436,700 shares of the company’s stock valued at $3,668,000 after buying an additional 291,600 shares during the last quarter. Hedge funds and other institutional investors own 40.10% of the company’s stock.
A number of analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $10.00 target price on shares of InvenSense in a research note on Wednesday, May 25th. Pacific Crest upgraded shares of InvenSense from a “sector weight” rating to an “overweight” rating and raised their target price for the stock from $6.80 to $9.00 in a research note on Friday, August 12th. Northland Securities upgraded shares of InvenSense from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Friday, July 29th. Finally, KeyCorp restated a “hold” rating on shares of InvenSense in a research note on Wednesday, July 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.94.
About InvenSense
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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