Royce & Associates LP Boosts Holdings in Identiv, Inc. (NASDAQ:INVE)

Royce & Associates LP lifted its stake in shares of Identiv, Inc. (NASDAQ:INVE) by 11.1% in the third quarter, Holdings Channel reports. The firm owned 1,373,743 shares of the technology company’s stock after buying an additional 137,034 shares during the period. Royce & Associates LP owned 0.06% of Identiv worth $4,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INVE. Acadian Asset Management LLC purchased a new stake in Identiv during the 2nd quarter worth approximately $164,000. Perritt Capital Management Inc increased its position in shares of Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after purchasing an additional 30,000 shares in the last quarter. Bank of Montreal Can acquired a new position in Identiv in the 2nd quarter valued at $370,000. Renaissance Technologies LLC lifted its holdings in Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Identiv by 156.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INVE shares. B. Riley reduced their target price on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Craig Hallum cut their price objective on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Identiv Stock Down 1.6 %

NASDAQ INVE opened at $3.58 on Tuesday. The business’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $3.84. The firm has a market cap of $85.53 million, a PE ratio of 1.17 and a beta of 1.35. Identiv, Inc. has a 52 week low of $2.95 and a 52 week high of $9.24.

Identiv announced that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Identiv Company Profile

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It 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.