InvenSense Inc (INVN) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.06. The company posted revenue of $60.64 million in the period, compared to analysts expectations of $60.25 million. The company’s revenue was down -43.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
Many Wall Street Analysts have commented on InvenSense Inc. Shares were Reiterated by Topeka Capital Markets on May 10, 2016 to “Buy” and Lowered the Price Target to $ 8 from a previous price target of $9 .
InvenSense Inc opened for trading at $7 and hit $7.135 on the upside on Thursday, eventually ending the session at $6.96, with a gain of 0.29% or 0.02 points. The heightened volatility saw the trading volume jump to 18,24,280 shares. Company has a market cap of $648 M.
In a different news, on May 17, 2016, Daniel Goehl (VPWorldwide Sales) sold 3,362 shares at $5.59 per share price. According to the SEC, on May 17, 2016, Mozafar Maghsoudnia (VP Technology & Worldwide Manu) sold 4,226 shares at $5.60 per share price. On May 17, 2016, Behrooz L. Abdi (CEO and President) sold 4,802 shares at $5.56 per share price, according to the Form-4 filing with the securities and exchange commission.
InvenSense Inc. (InvenSense) is engaged in designing developing manufacturing and marketing devices and related software for sensor system-on-chip (SoC) for the motion and sound markets. The Company designs develops markets and sells sensor SoCs including accelerometers gyroscopes and microphones for the mobile wearable smart home gaming industrial and automotive market segments. The Company’s motion solutions detect and track an object’s motion in three-dimensional space. It assimilates information from gyroscopes accelerometers magnetometers pressure sensors and microphones to determine how a host device is moving its direction its elevation and what it is hearing. The Company’s sensor SoC devices consist of various fundamental components such as its micro-electro-mechanical-systems (MEMS)-based motion sensors combined with its mixed-signal circuitry for signal processing; its MotionFusion technology and the MotionApps platform.