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 research report released on Monday.

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

Identiv Stock Performance

Shares of Identiv stock opened at $3.80 on Monday. The company has a market capitalization of $89.21 million, a PE ratio of 1.24 and a beta of 1.35. The company has a 50-day simple moving average of $3.53 and a two-hundred day simple moving average of $3.88. Identiv has a one year low of $2.95 and a one year high of $9.24.

Identiv announced that its board has approved a share buyback program on Thursday, November 7th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the technology company to buy up to 11.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Identiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Royce & Associates LP boosted its holdings in Identiv by 11.1% during the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after buying an additional 137,034 shares in the last quarter. Vanguard Group Inc. raised its holdings in Identiv by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares during the period. Assenagon Asset Management S.A. boosted its position in 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. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 4,000 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Identiv in the second quarter valued at approximately $370,000. 65.16% of the stock is owned by institutional investors and hedge funds.

About Identiv

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.