Royce & Associates LP Sells 93,522 Shares of Identiv, Inc. (NASDAQ:INVE)

Key Points

• Royce & Associates LP reduced its stake in Identiv, Inc. (NASDAQ: INVE) by 6.3%, selling 93,522 shares and holding approximately 1.4 million shares valued at $4.46 million.
• Identiv's stock performance showed a 12-month low of $2.86 and a high of $4.29, with the current share price at $3.75 and a market cap of $88.58 million.
• Analysts have adjusted their price target for Identiv from $6.00 to $5.00, while the company reported a better-than-expected earnings per share of ($0.21) for the last quarter, exceeding estimates.

Royce & Associates LP reduced its position in shares of Identiv, Inc. (NASDAQ:INVE - Free Report) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,398,048 shares of the technology company's stock after selling 93,522 shares during the period. Royce & Associates LP owned about 5.93% of Identiv worth $4,460,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Identiv during the fourth quarter valued at $37,000. Renaissance Technologies LLC grew its position in Identiv by 94.0% in the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company's stock valued at $647,000 after buying an additional 85,628 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in Identiv by 3.8% in the 4th quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company's stock valued at $3,832,000 after acquiring an additional 38,704 shares during the last quarter. Marshall Wace LLP acquired a new stake in Identiv in the 4th quarter valued at about $51,000. Finally, Dimensional Fund Advisors LP lifted its stake in Identiv by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company's stock valued at $1,033,000 after buying an additional 5,844 shares in the last quarter. 65.16% of the stock is owned by institutional investors and hedge funds.

Identiv Price Performance

NASDAQ:INVE traded up $0.07 during mid-day trading on Thursday, reaching $3.48. The stock had a trading volume of 2,948 shares, compared to its average volume of 59,952. The business's 50 day moving average is $3.32 and its 200 day moving average is $3.35. Identiv, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $4.29. The stock has a market cap of $82.20 million, a P/E ratio of 1.15 and a beta of 1.37.

Identiv (NASDAQ:INVE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. Identiv had a negative return on equity of 16.54% and a net margin of 287.10%. The company had revenue of $5.27 million for the quarter, compared to the consensus estimate of $4.95 million. Equities analysts expect that Identiv, Inc. will post -1.11 EPS for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price objective on shares of Identiv from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

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.