Insider Trading Activity in: InvenSense Inc (INVN)

InvenSense Inc (NYSE:INVN) insider has recently participated in insider trading activity. Director, Shah Amit sold 140,700 shares for $6.94 via one transaction Feb 11. Following the transaction, the insider now owns 40,044 shares in total, priced at $291119.88 as of Tuesday. Another notable insider trading was done by the same insider on Feb 10. Shah Amit acquired 147,000 shares at an average price of $6.88 for a total of $40,044. Moreover, this insider carried out a sale of 78,000 shares at $6.94 each on Feb 09. The transaction amounted to $541,008. Director Olson Jon A sold 10,000 shares for $6.80 through one transaction Feb 08. Following this sale, this insider’s stake in the company comprises 23,580 shares, priced at $171426.6 as of Tuesday.

The stock has experienced a total of 10 insider trades in the past three months. These trades include 9 sell activities and 1 buy trades. Furthermore, over the past 12 months, the stock was traded 50 times by insiders. In 45 of these trades, the insider was a seller while an employee of the company was the buyer in just 5 instances.

On January 27, 2016 InvenSense Inc (INVN) announced results for its third quarter of fiscal 2016, ended December 27, 2015.

Net revenue for the third quarter of fiscal 2016 was $120.0 million, up 7 percent from $112.5 million for the second quarter of fiscal 2016, and up 4 percent from $115.9 million for the third quarter of fiscal 2015.

Gross margin determined in accordance with U.S. generally accepted accounting principles (GAAP) was 41 percent for the third quarter of fiscal 2016, consistent with 41 percent for the second quarter of fiscal 2016. GAAP gross margin for the third quarter of fiscal 2016 included stock-based compensation and related payroll taxes, and amortization of acquisition intangibles. Excluding these items, non-GAAP gross margin was 44 percent for the third quarter of fiscal 2016, consistent with 44 percent for the second quarter of fiscal 2016.

GAAP net income for the third quarter of fiscal 2016 was $1.9 million, or 2 cents per diluted share. By comparison, GAAP net income was $5.7 million, or 6 cents per diluted share for the second quarter of fiscal 2016. GAAP net income for the third quarter of fiscal 2016 included stock-based compensation and related payroll taxes, accreting interest expense on convertible notes, amortization of acquisition intangibles, business acquisition costs, other adjustments, the income tax effect of non-GAAP adjustments, and other discrete tax adjustments. Excluding these items, non-GAAP net income for the third quarter of fiscal 2016 was $16.7 million, or 18 cents per diluted share, compared with $14.9 million, or 16 cents per diluted share, for the second quarter of fiscal 2016.