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 report issued on Tuesday morning, 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 also recently commented on INVE. StockNews.com upgraded Identiv from a sell rating to a hold rating in a research note on Monday, April 4th. Craig Hallum initiated coverage on Identiv in a research note on Monday, April 25th. They set a buy rating and a $20.00 price objective for the company. Finally, B. Riley lowered their price objective on Identiv from $31.00 to $23.00 and set a buy rating for the company in a research note on Thursday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $20.25.

Shares of NASDAQ INVE opened at $11.79 on Tuesday. Identiv has a twelve month low of $11.11 and a twelve month high of $29.00. The company has a market capitalization of $263.16 million, a price-to-earnings ratio of 589.50 and a beta of 1.71. The business has a 50 day simple moving average of $14.28 and a 200-day simple moving average of $19.29.

Identiv (NASDAQ:INVEGet Rating) last issued 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). The firm had revenue of $28.52 million during the quarter, compared to the consensus estimate of $28.45 million. Identiv had a net margin of 1.96% and a return on equity of 1.92%. During the same quarter last year, the firm posted ($0.05) earnings per share. Research analysts forecast that Identiv will post 0.09 EPS for the current year.

In other news, major shareholder Lp Bleichroeder acquired 3,301 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average price of $11.75 per share, for a total transaction of $38,786.75. Following the completion of the acquisition, the insider now directly owns 2,594,008 shares in the company, valued at approximately $30,479,594. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary Kremen sold 11,000 shares of the company’s stock in a transaction on 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. Insiders have acquired a total of 287,847 shares of company stock valued at $3,873,982 in the last quarter. 8.60% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. UBS Group AG acquired a new stake in shares of Identiv in the third quarter valued at $31,000. Royal Bank of Canada lifted its holdings in shares of Identiv by 47.7% in the second quarter. Royal Bank of Canada now owns 2,415 shares of the technology company’s stock valued at $41,000 after buying an additional 780 shares during the period. Citigroup Inc. lifted its holdings in shares of Identiv by 151.5% during the third 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 during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Identiv during the fourth quarter valued at $62,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Identiv by 377.4% during the third 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 during the last quarter. Institutional investors and hedge funds 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.

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