Touch technology firm sees short interest rise
22 January 2013 California
Image: Shutterstock
A new entrant in SunGard Astec Analytic鈥檚 top ten stocks from a securities lending focus, InvenSense saw its share price make good gains in the week of 13 January ahead of its upcoming earnings results, and despite some insiders selling a number of their shares.
The firm, which provides motion tracking devices for consumer electronics products such as smartphones, tablets, game controllers, smart TVs, was reportedly downgraded by stock analysts at Needham & Company from a 鈥渂uy鈥� rating to a 鈥渉old鈥� rating on 21 January.
Despite some minor short-covering in Friday 17 January鈥檚 session, Astec鈥檚 data suggests the stock has for the most part seen short interest climbing during the last month鈥攚ith borrowing volumes having climbed 9 percent in January.
InvenSense has recently been engaged in a court battle with rival STMicroelectronics. InvenSense claims that its micro-electro-mechanical systems technology鈥攕pecifically, the feature that can tell when consumers touch and turn their gadgets鈥攈as been patented by them, and that STM, a Swiss firm, has exploited this patent.
The firm, which provides motion tracking devices for consumer electronics products such as smartphones, tablets, game controllers, smart TVs, was reportedly downgraded by stock analysts at Needham & Company from a 鈥渂uy鈥� rating to a 鈥渉old鈥� rating on 21 January.
Despite some minor short-covering in Friday 17 January鈥檚 session, Astec鈥檚 data suggests the stock has for the most part seen short interest climbing during the last month鈥攚ith borrowing volumes having climbed 9 percent in January.
InvenSense has recently been engaged in a court battle with rival STMicroelectronics. InvenSense claims that its micro-electro-mechanical systems technology鈥攕pecifically, the feature that can tell when consumers touch and turn their gadgets鈥攈as been patented by them, and that STM, a Swiss firm, has exploited this patent.
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