Identiv, Inc. (NASDAQ:INVE) Position Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Identiv, Inc. (NASDAQ:INVE) by 69.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,711 shares of the technology company’s stock after selling 116,714 shares during the period. Assenagon Asset Management S.A.’s holdings in Identiv were worth $189,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Identiv during the 3rd quarter worth about $228,000. Bank of Montreal Can bought a new position in shares of Identiv in the second quarter valued at approximately $370,000. Renaissance Technologies LLC lifted its stake in shares of Identiv by 4.9% in the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after buying an additional 4,000 shares during the last quarter. Finally, Royce & Associates LP grew its stake in Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after buying an additional 137,034 shares during the last quarter. 65.16% of the stock is owned by institutional investors.

Identiv Stock Down 1.6 %

Shares of NASDAQ:INVE opened at $3.70 on Friday. The firm has a market cap of $88.39 million, a P/E ratio of 1.21 and a beta of 1.36. Identiv, Inc. has a 12 month low of $2.95 and a 12 month high of $9.24. The company’s 50-day moving average price is $3.82 and its two-hundred day moving average price is $3.68.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. The company had revenue of $6.53 million during the quarter, compared to analysts’ expectations of $6.00 million. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. During the same quarter in the previous year, the company earned ($0.01) EPS. As a group, equities analysts predict that Identiv, Inc. will post -1.11 earnings per share for the current fiscal year.

Identiv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Identiv Company Profile

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.