Wells Fargo & Company MN reduced its stake in shares of InvenSense Inc (NYSE:INVN) by 5.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 71,512 shares of the semiconductor company’s stock after selling 3,960 shares during the period. Wells Fargo & Company MN owned 0.08% of InvenSense worth $904,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. WFG Advisors LP raised its stake in shares of InvenSense by 499.8% in the fourth quarter. WFG Advisors LP now owns 2,999 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 2,499 shares during the last quarter. Teachers Advisors LLC raised its position in InvenSense by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 149,023 shares of the semiconductor company’s stock worth $1,906,000 after buying an additional 4,383 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of InvenSense by 16.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 57,255 shares of the semiconductor company’s stock valued at $732,000 after buying an additional 8,183 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in shares of InvenSense during the fourth quarter valued at approximately $512,000. Finally, Guggenheim Capital LLC purchased a new position in shares of InvenSense during the fourth quarter valued at approximately $685,000. 46.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of InvenSense Inc (INVN) opened at 12.99 on Friday. InvenSense Inc has a one year low of $5.61 and a one year high of $13.00. The firm’s 50-day moving average is $12.99 and its 200-day moving average is $12.59.
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Separately, Canaccord Genuity reaffirmed a “hold” rating and set a $13.00 price objective on shares of InvenSense in a report on Thursday, May 18th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.14.
In related news, CEO Behrooz L. Abdi sold 4,701 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.98, for a total transaction of $61,018.98. Following the sale, the chief executive officer now directly owns 250,315 shares in the company, valued at $3,249,088.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel Goehl sold 8,020 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.98, for a total transaction of $104,099.60. Following the completion of the transaction, the vice president now owns 33,307 shares in the company, valued at $432,324.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,029 shares of company stock valued at $311,896. Company insiders own 14.20% of the company’s stock.
InvenSense Company Profile
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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