Identiv (NASDAQ:INVE) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Identiv (NASDAQ:INVEGet Rating) from a buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Identiv Inc. is a global security technology company. It provides trust solutions in the connected world, including premises, information and everyday items. The Company’s trust solutions are implemented using standards-driven products and technology, such as hardware, software, digital certificates, and mobility and cloud services. Its products are used in corporate employee identification cards, company email, information technology networks and facility access control, in national ID cards and passports, transport passes, banking and other uses. Identiv Group, Inc., formerly known as Identive Group, Inc., is headquartered in Fremont, California. “

A number of other research analysts have also recently weighed in on INVE. StockNews.com upgraded Identiv from a sell rating to a hold rating in a research report on Monday, April 4th. B. Riley dropped their price target on Identiv from $31.00 to $23.00 and set a buy rating for the company in a research report on Thursday, April 14th. Finally, Craig Hallum assumed coverage on Identiv in a research report on Monday, April 25th. They set a buy rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $20.25.

Shares of INVE stock opened at $11.79 on Tuesday. Identiv has a fifty-two week low of $11.11 and a fifty-two week high of $29.00. The stock has a market cap of $263.16 million, a P/E ratio of 589.50 and a beta of 1.71. The business has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $19.29.

Identiv (NASDAQ:INVEGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.13). Identiv had a net margin of 1.96% and a return on equity of 1.92%. The firm had revenue of $28.52 million during the quarter, compared to analysts’ expectations of $28.45 million. During the same quarter in the prior year, the business earned ($0.05) EPS. Analysts forecast that Identiv will post 0.09 EPS for the current year.

In other Identiv news, major shareholder Lp Bleichroeder purchased 100,000 shares of the stock in a transaction on Friday, May 6th. The stock was bought at an average price of $12.10 per share, for a total transaction of $1,210,000.00. Following the acquisition, the insider now directly owns 2,590,707 shares of the company’s stock, valued at $31,347,554.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Kremen sold 11,000 shares of Identiv stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $20.30, for a total value of $223,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 287,847 shares of company stock valued at $3,873,982. 8.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG acquired a new position in shares of Identiv in the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of Identiv in the 4th quarter valued at about $62,000. Royal Bank of Canada lifted its stake in shares of Identiv by 47.7% in the 2nd quarter. Royal Bank of Canada now owns 2,415 shares of the technology company’s stock valued at $41,000 after purchasing an additional 780 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Identiv by 151.5% in the 3rd quarter. Citigroup Inc. now owns 2,472 shares of the technology company’s stock valued at $47,000 after purchasing an additional 1,489 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Identiv by 377.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,800 shares of the technology company’s stock valued at $72,000 after purchasing an additional 3,004 shares in the last quarter. Institutional investors own 65.26% of the company’s stock.

Identiv Company Profile (Get Rating)

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.

Read More

Get a free copy of the Zacks research report on Identiv (INVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Identiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Identiv and related companies with MarketBeat.com's FREE daily email newsletter.