Identiv (NASDAQ:INVE) Board Initiates Stock Buyback Plan

Identiv (NASDAQ:INVE) announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th, RTT News reports. The company plans to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to purchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

INVE has been the topic of several recent analyst reports. StockNews.com lowered Identiv from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. B. Riley decreased 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. Finally, Craig Hallum reduced their price objective on Identiv from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Identiv Stock Performance

INVE stock traded down $0.09 on Thursday, reaching $3.58. The company had a trading volume of 134,872 shares, compared to its average volume of 84,592. Identiv has a 1 year low of $2.95 and a 1 year high of $9.24. The company has a market cap of $84.06 million, a P/E ratio of -6.28 and a beta of 1.35. The company’s fifty day moving average is $3.51 and its 200 day moving average is $3.91.

Identiv (NASDAQ:INVE) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.05). The company had revenue of $6.74 million during the quarter, compared to analyst estimates of $24.00 million. Identiv had a negative net margin of 13.77% and a negative return on equity of 18.44%. On average, sell-side analysts predict that Identiv will post -1.02 earnings per share for the current year.

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.