Jacobs Levy Equity Management Inc. Takes Position in Identiv, Inc. (NASDAQ:INVE)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Identiv, Inc. (NASDAQ:INVE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,650 shares of the technology company’s stock, valued at approximately $228,000. Jacobs Levy Equity Management Inc. owned approximately 0.27% of Identiv at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock valued at $9,431,000 after purchasing an additional 3,407 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Identiv by 4.9% during the 2nd 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 last quarter. Perritt Capital Management Inc grew its holdings in Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after purchasing an additional 30,000 shares during the last quarter. Acadian Asset Management LLC bought a new position in Identiv during the 2nd quarter valued at about $164,000. Finally, Bank of Montreal Can bought a new position in Identiv during the 2nd quarter valued at about $370,000. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Price Performance

Shares of INVE stock opened at $4.17 on Wednesday. The company has a market capitalization of $99.60 million, a P/E ratio of 1.36 and a beta of 1.35. The company’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $3.78. Identiv, Inc. has a one year low of $2.95 and a one year high of $9.24.

Identiv declared that its Board of Directors has approved a share buyback program on Thursday, November 7th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.