InvenSense Inc (INVN): Today's Featured Technology Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

InvenSense ( INVN) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 1.1%. By the end of trading, InvenSense fell $0.85 (-4.0%) to $20.58 on average volume. Throughout the day, 2,825,769 shares of InvenSense exchanged hands as compared to its average daily volume of 2,407,600 shares. The stock ranged in price between $20.30-$21.42 after having opened the day at $21.42 as compared to the previous trading day's close of $21.43. Other companies within the Technology sector that declined today were: Itron ( ITRI), down 14.2%, Alvarion ( ALVR), down 12.5%, ( SPRT), down 10.7% and Lantronix ( LTRX), down 9.8%.

InvenSense, Inc. designs, develops, markets, and sells micro-electro-mechanical system (MEMS) gyroscopes for motion tracking devices in consumer electronics. InvenSense has a market cap of $1.9 billion and is part of the electronics industry. Shares are up 3.1% year to date as of the close of trading on Wednesday. Currently there are 6 analysts that rate InvenSense a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates InvenSense as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and premium valuation.

On the positive front, ION Geophysical Corporation ( IO), up 29.2%, LiveDeal ( LIVE), up 25.4%, ARC Group Worldwide ( ARCW), up 16.0% and Luxoft Holding Inc Class A ( LXFT), up 14.7% , were all gainers within the technology sector with Sap ( SAP) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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