Zacks Investment Research Lowers Identiv (NASDAQ:INVE) to Hold

Identiv (NASDAQ:INVEGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Several other equities research analysts have also recently commented on INVE. Craig Hallum started coverage on Identiv in a research note on Monday, April 25th. They set a “buy” rating and a $20.00 price target for the company. B. Riley cut their price target on Identiv from $31.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Finally, StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a research note on Monday, April 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.25.

INVE stock opened at $11.92 on Tuesday. The stock’s 50 day simple moving average is $14.62. The stock has a market capitalization of $266.07 million, a PE ratio of 596.00 and a beta of 1.71. Identiv has a fifty-two week low of $11.72 and a fifty-two week high of $29.00.

Identiv (NASDAQ:INVEGet Rating) last issued its quarterly earnings data 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). Identiv had a net margin of 1.96% and a return on equity of 1.92%. The firm had revenue of $28.52 million during the quarter, compared to analysts’ expectations of $28.45 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts anticipate that Identiv will post 0.08 EPS for the current fiscal year.

In other Identiv news, CFO Justin Scarpulla acquired 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average price of $15.36 per share, with a total value of $99,840.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lp Bleichroeder acquired 59,370 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were acquired at an average cost of $15.16 per share, for a total transaction of $900,049.20. The disclosure for this purchase can be found here. Insiders have purchased 184,546 shares of company stock worth $2,625,195 in the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. UBS Group AG acquired a new stake in Identiv in the third quarter valued at $31,000. EverSource Wealth Advisors LLC acquired a new stake in Identiv in the fourth quarter valued at $62,000. Royal Bank of Canada grew its holdings in 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 purchasing an additional 780 shares during the last quarter. Citigroup Inc. lifted its position in shares of Identiv by 151.5% in the third quarter. Citigroup Inc. now owns 2,472 shares of the technology company’s stock valued at $47,000 after acquiring an additional 1,489 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Identiv by 377.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,800 shares of the technology company’s stock valued at $72,000 after acquiring an additional 3,004 shares in the last quarter. 65.26% of the stock is currently owned by institutional investors.

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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