Identiv, Inc. (NASDAQ:INVE) Releases Earnings Results, Beats Estimates By $0.01 EPS
Identiv, Inc. (NASDAQ:INVE) issued its quarterly earnings results on Thursday. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01, Morningstar.com reports. Identiv had a negative net margin of 9.56% and a negative return on equity of 128.41%. The firm had revenue of $14.84 million for the quarter, compared to the consensus estimate of $14.71 million. During the same quarter in the previous year, the company earned ($0.27) EPS.
Identiv (NASDAQ:INVE) traded down 1.40% during midday trading on Friday, reaching $4.92. 65,185 shares of the company’s stock traded hands. Identiv has a one year low of $1.86 and a one year high of $7.81. The stock’s market cap is $55.17 million. The stock’s 50 day moving average price is $5.25 and its 200-day moving average price is $5.45.
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In other news, Director Nina B. Shapiro purchased 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $5.52 per share, for a total transaction of $55,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its position in Identiv by 1,584.6% in the second quarter. First Eagle Investment Management LLC now owns 1,095,000 shares of the technology company’s stock worth $5,749,000 after buying an additional 1,030,000 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Identiv by 15.0% in the second quarter. Royce & Associates LP now owns 755,086 shares of the technology company’s stock valued at $3,964,000 after buying an additional 98,497 shares during the period. EAM Investors LLC purchased a new stake in shares of Identiv during the first quarter valued at about $688,000. Essex Investment Management Co. LLC boosted its stake in shares of Identiv by 163.1% in the first quarter. Essex Investment Management Co. LLC now owns 145,935 shares of the technology company’s stock valued at $1,030,000 after buying an additional 90,462 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Identiv by 32.0% in the fourth quarter. Renaissance Technologies LLC now owns 234,940 shares of the technology company’s stock valued at $747,000 after buying an additional 56,980 shares during the period. 14.82% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Northland Securities set a $10.00 target price on shares of Identiv and gave the company a “buy” rating in a research report on Monday.
Identiv Company Profile
Identiv, Inc is a global security technology company. The Company operates through four segments: Physical access control systems (PACS), Identity, Credentials and All Other. PACS segment provides solutions and services that enable the issuance, management and use of secure identity credentials in diverse markets.
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