Canaccord Genuity Remains a Hold on InvenSense

By Carrie Williams

In a report released today, Matt Ramsay from Canaccord Genuity reiterated a Hold rating on InvenSense (NYSE: INVN), with a price target of $13. The company’s shares closed yesterday at $12.99, close to its 52-week high of $13.

According to, Ramsay is a top 100 analyst with an average return of 24.9% and a 70.9% success rate. Ramsay covers the Technology sector, focusing on stocks such as Everspin Technologies Inc, Advanced Micro Devices, and Silicon Laboratories.

InvenSense has an analyst consensus of Hold, with a price target consensus of $13.

Based on InvenSense’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $79.81 million and GAAP net loss of $16.48 million. In comparison, last year the company earned revenue of $79.53 million and had a GAAP net loss of $22.95 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Adam Tachner, the VP & GC of INVN sold 22 shares for a total of $125.

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Founded in 2003, InvenSense Inc. (NYSE: INVN) is the world’s leading provider of MEMS sensor platforms. InvenSense’s vision of Sensing Everything™ targets the consumer electronics and industrial markets with integrated Motion and Sound solutions. Its solutions combine MEMS (micro electrical mechanical systems) sensors, such as accelerometers, gyroscopes, compasses, and microphones with proprietary algorithms and firmware that intelligently process, synthesize, and calibrate the output of sensors, maximizing performance and accuracy. InvenSense’s motion tracking, audio and location platforms, and services can be found in many of the world’s largest and most iconic brands including smartphones, tablets, wearables, drones, gaming devices, internet of things, automotive products, and remote controls for smart TVs.