Identiv (NASDAQ:INVE) Price Target Cut to $21.00

Identiv (NASDAQ:INVE – Get Rating) had its target price dropped by investment analysts at Lake Street Capital from $28.00 to $21.00 in a research report issued on Thursday, The Fly reports. Lake Street Capital’s target price would indicate a potential upside of 38.52% from the stock’s current price.

Several other research firms have also commented on INVE. Craig Hallum assumed coverage on shares of Identiv in a research report on Monday, April 25th. They issued a “buy” rating and a $20.00 price objective on the stock. B. Riley reduced their target price on shares of Identiv from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th.

Identiv Stock Down 0.9 %

NASDAQ:INVE opened at $15.16 on Thursday. Identiv has a fifty-two week low of $10.70 and a fifty-two week high of $29.00. The stock has a market cap of $338.60 million, a PE ratio of -168.43 and a beta of 1.69. The firm’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $14.62.

Identiv (NASDAQ:INVE – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The technology company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). Identiv had a negative net margin of 0.57% and a positive return on equity of 2.23%. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities analysts anticipate that Identiv will post 0.09 earnings per share for the current year.

Insider Transactions at Identiv

In related news, major shareholder Lp Bleichroeder acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were acquired at an average cost of $11.15 per share, for a total transaction of $111,500.00. Following the acquisition, the insider now directly owns 2,629,008 shares in the company, valued at approximately $29,313,439.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wasatch Advisors Inc. acquired a new stake in Identiv during the 4th quarter worth approximately $13,553,000. Portolan Capital Management LLC increased its position in Identiv by 16.4% during the 1st quarter. Portolan Capital Management LLC now owns 2,029,694 shares of the technology company’s stock worth $32,820,000 after purchasing an additional 286,196 shares in the last quarter. Bleichroeder LP increased its position in Identiv by 8.7% during the 1st quarter. Bleichroeder LP now owns 2,387,936 shares of the technology company’s stock worth $38,613,000 after purchasing an additional 191,547 shares in the last quarter. Cooper Creek Partners Management LLC increased its position in Identiv by 33.2% during the 1st quarter. Cooper Creek Partners Management LLC now owns 548,202 shares of the technology company’s stock worth $8,864,000 after purchasing an additional 136,728 shares in the last quarter. Finally, Royce & Associates LP increased its position in Identiv by 42.2% during the 2nd quarter. Royce & Associates LP now owns 417,592 shares of the technology company’s stock worth $4,836,000 after purchasing an additional 123,925 shares in the last quarter. 65.26% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

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Identiv, Inc operates as a security technology company that secures things, data, and physical places in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.