Identiv (INVE) Upgraded to “Buy” by Zacks Investment Research

Identiv (NASDAQ:INVE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $6.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 19.76% from the stock’s previous close.

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. “

A number of other equities research analysts have also issued reports on INVE. ValuEngine raised Identiv from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 15th. Northland Securities reissued a “buy” rating on shares of Identiv in a research report on Friday, March 8th. Oppenheimer started coverage on Identiv in a research report on Tuesday, April 30th. They issued an “outperform” rating and a $7.00 target price on the stock. Finally, Maxim Group reissued a “buy” rating on shares of Identiv in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $8.17.

Shares of Identiv stock opened at $5.01 on Tuesday. Identiv has a 52-week low of $3.34 and a 52-week high of $6.87. The company has a market capitalization of $88.02 million, a P/E ratio of -16.70 and a beta of 1.80. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06.

Identiv (NASDAQ:INVE) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Identiv had a negative return on equity of 5.62% and a negative net margin of 3.96%. The business had revenue of $19.52 million for the quarter, compared to analyst estimates of $19.41 million.

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in shares of Identiv during the 3rd quarter worth approximately $205,000. Royce & Associates LP increased its position in shares of Identiv by 0.7% during the 4th quarter. Royce & Associates LP now owns 819,755 shares of the technology company’s stock worth $2,951,000 after purchasing an additional 6,092 shares during the last quarter. Vanguard Group Inc increased its position in shares of Identiv by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 605,033 shares of the technology company’s stock worth $3,606,000 after purchasing an additional 5,600 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Identiv by 20.7% during the 3rd quarter. Renaissance Technologies LLC now owns 399,939 shares of the technology company’s stock worth $2,384,000 after purchasing an additional 68,676 shares during the last quarter. Finally, Hollencrest Capital Management increased its position in shares of Identiv by 7.7% during the 1st quarter. Hollencrest Capital Management now owns 42,105 shares of the technology company’s stock worth $212,000 after purchasing an additional 3,000 shares during the last quarter. 31.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Company Profile

Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.

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