Schwab Charles Investment Management Inc. raised its stake in shares of InvenSense Inc (NYSE:INVN) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,806 shares of the semiconductor company’s stock after buying an additional 48,234 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.40% of InvenSense worth $4,797,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its stake in InvenSense by 57.8% in the first quarter. Parametric Portfolio Associates LLC now owns 25,002 shares of the semiconductor company’s stock valued at $316,000 after buying an additional 9,157 shares in the last quarter. Trexquant Investment LP acquired a new stake in InvenSense during the first quarter valued at approximately $318,000. Legal & General Group Plc raised its stake in InvenSense by 15.9% in the first quarter. Legal & General Group Plc now owns 26,311 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 3,618 shares in the last quarter. Global X Management Co. LLC raised its stake in InvenSense by 375.6% in the first quarter. Global X Management Co. LLC now owns 27,338 shares of the semiconductor company’s stock valued at $345,000 after buying an additional 21,590 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in InvenSense by 114.0% in the first quarter. UBS Asset Management Americas Inc. now owns 34,665 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 18,466 shares in the last quarter. Institutional investors and hedge funds own 46.50% of the company’s stock.
Shares of InvenSense Inc (NYSE:INVN) remained flat at $12.99 during trading on Friday. 5,619,013 shares of the company traded hands. The company has a 50 day moving average of $12.99 and a 200 day moving average of $12.70. InvenSense Inc has a 12 month low of $6.30 and a 12 month high of $13.00.
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Separately, Canaccord Genuity reiterated a “hold” rating and issued a $13.00 price target on shares of InvenSense in a research report on Thursday, May 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. InvenSense presently has an average rating of “Hold” and an average target price of $11.33.
In related news, CEO Behrooz L. Abdi sold 4,701 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.98, for a total transaction of $61,018.98. Following the completion of the sale, the chief executive officer now directly owns 250,315 shares in the company, valued at $3,249,088.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark P. Dentinger sold 11,308 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $12.98, for a total transaction of $146,777.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,029 shares of company stock valued at $311,896. 14.20% of the stock is currently owned by corporate insiders.
InvenSense, Inc (InvenSense) is engaged in designing, developing, marketing and selling of sensor system-on-chip (SoC), including accelerometers, gyroscopes and microphones for the mobile, wearable, smart home, gaming, industrial and automotive market segments. The Company delivers solutions based on its motion and sound technology; focused on solutions, such as smartphones, tablets, wearables, console and portable video gaming devices, digital television and set-top box remote controls, fitness accessories, sports equipment, digital still cameras, automobiles, ultra-books, laptops, hearing aids, stabilization systems, tools, navigation devices, remote controlled toys and other household consumer and industrial devices.
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