Identiv (NASDAQ:INVE) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Identiv (NASDAQ:INVE) from a sell rating to a hold rating in a research report sent to investors on Monday.

Other research analysts have also recently issued research reports about the stock. Craig Hallum reduced their target price on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley cut their price objective on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 9th.

Identiv Price Performance

Shares of Identiv stock opened at $3.66 on Monday. The firm has a fifty day moving average price of $3.55 and a 200 day moving average price of $3.87. Identiv has a 1 year low of $2.95 and a 1 year high of $9.24. The stock has a market cap of $85.94 million, a PE ratio of 1.20 and a beta of 1.35.

Identiv declared that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INVE. Acadian Asset Management LLC purchased a new position in Identiv in the second quarter valued at $164,000. Perritt Capital Management Inc increased its stake in shares of Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after purchasing an additional 30,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Identiv during the second quarter worth about $370,000. Renaissance Technologies LLC increased its stake in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares in the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Identiv Company Profile

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.