Identiv (NASDAQ:INVE) Stock Rating Upgraded by StockNews.com

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

A number of other research firms also recently issued reports on INVE. B. Riley lowered their target price 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. Craig Hallum dropped their price objective on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Identiv Trading Down 0.5 %

NASDAQ INVE opened at $3.64 on Monday. The company has a market capitalization of $86.96 million, a PE ratio of 1.19 and a beta of 1.35. The business’s 50-day moving average price is $3.55 and its 200 day moving average price is $3.87. Identiv has a twelve month low of $2.95 and a twelve month high of $9.24.

Identiv announced that its board has initiated a stock repurchase program on Thursday, November 7th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the technology company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Identiv

Large investors have recently made changes to their positions in the business. Royce & Associates LP boosted its position in Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after purchasing an additional 137,034 shares during the period. Vanguard Group Inc. raised its holdings in shares of Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock valued at $9,431,000 after buying an additional 3,407 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Identiv by 156.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after acquiring an additional 140,981 shares during the period. Renaissance Technologies LLC grew its position in Identiv by 4.9% in the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Identiv during the second quarter worth $370,000. Institutional investors and hedge funds 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.