Identiv (NASDAQ:INVE) Price Target Cut to $6.00 by Analysts at Lake Street Capital

Identiv (NASDAQ:INVE) had its price target reduced by Lake Street Capital from $7.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, StockNews.com raised shares of Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Identiv Stock Down 6.6 %

Shares of INVE opened at $3.24 on Thursday. Identiv has a 52-week low of $2.95 and a 52-week high of $8.89. The firm’s fifty day moving average is $3.61 and its two-hundred day moving average is $3.63. The stock has a market cap of $77.39 million, a PE ratio of 1.06 and a beta of 1.34.

Identiv (NASDAQ:INVE) last announced its earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.14. The company had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $6.12 million. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. During the same quarter in the previous year, the company posted $0.02 EPS. As a group, research analysts anticipate that Identiv will post -1.11 earnings per share for the current year.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Identiv by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock valued at $1,033,000 after buying an additional 5,844 shares during the period. Raymond James Financial Inc. purchased a new stake in Identiv in the 4th quarter valued at about $37,000. Occudo Quantitative Strategies LP purchased a new stake in Identiv in the 4th quarter valued at about $49,000. Marshall Wace LLP purchased a new stake in Identiv in the 4th quarter valued at about $51,000. Finally, Jane Street Group LLC purchased a new stake in Identiv in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

About Identiv

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.