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InvenSense (INVN) in Focus: Stock Surges 17.6% in Session
InvenSense, Inc. was a big mover last session, as the company saw its shares surge over 17% on the day. The upside came after the company announced that its board of directors has unanimously agreed to be acquired by TDK for $19 a share in an all-cash transaction, equivalent to a total value of $1.3 billion. The news led to far more shares changing hands than in a normal session resulting in solid volume. This continues the recent uptrend for the company as the stock is now up 78.3% since Dec 1.
None of the estimates for this stock were revised over the past seven days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
InvenSense currently carries a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
INVENSENSE INC Price
INVENSENSE INC Price | INVENSENSE INC Quote
A better-ranked stock in the same industry is KEMET Corporation (KEM - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is INVN going up? Or down? Predict to see what others think: Up or Down
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