Equities research analysts expect Immersion Co. (NASDAQ:IMMR) to report sales of $6.02 million for the current quarter, Zacks reports. Two analysts have made estimates for Immersion’s earnings. The lowest sales estimate is $6.00 million and the highest is $6.04 million. Immersion reported sales of $9.29 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 35.2%. The business is expected to issue its next earnings results after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Immersion will report full-year sales of $6.02 million for the current year, with estimates ranging from $34.12 million to $34.16 million. For the next fiscal year, analysts forecast that the company will report sales of $50.51 million per share, with estimates ranging from $34.00 million to $67.02 million. Zacks’ sales averages are an average based on a survey of analysts that follow Immersion.
Several analysts have issued reports on the company. Craig Hallum raised Immersion from a “hold” rating to a “buy” rating and upped their target price for the stock from $8.00 to $12.00 in a research note on Tuesday, January 16th. Zacks Investment Research lowered Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. B. Riley reaffirmed a “buy” rating and issued a $12.25 target price on shares of Immersion in a research note on Tuesday, January 30th. Finally, ValuEngine raised Immersion from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $11.75.
In other news, major shareholder Raging Capital Management, Llc bought 411,998 shares of the business’s stock in a transaction on Monday, December 4th. The stock was acquired at an average price of $7.31 per share, with a total value of $3,011,705.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 1,432,482 shares of company stock valued at $10,166,370. 7.22% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in IMMR. Voya Investment Management LLC lifted its position in Immersion by 14.1% in the second quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after purchasing an additional 2,501 shares during the last quarter. ETF Managers Group LLC bought a new stake in Immersion in the second quarter valued at approximately $221,000. Alliancebernstein L.P. bought a new stake in Immersion in the second quarter valued at approximately $232,000. The Manufacturers Life Insurance Company lifted its position in Immersion by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after purchasing an additional 1,929 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Immersion by 199.2% in the third quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after purchasing an additional 58,555 shares during the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.
Shares of Immersion (NASDAQ:IMMR) traded down $0.23 during midday trading on Friday, hitting $9.90. The stock had a trading volume of 476,107 shares, compared to its average volume of 1,511,753. Immersion has a 52 week low of $5.76 and a 52 week high of $11.85. The stock has a market capitalization of $296.32, a price-to-earnings ratio of -4.04, a price-to-earnings-growth ratio of 1.84 and a beta of 1.82.
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Immersion Company Profile
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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