Intermolecular (IMI) Sets New 1-Year High at $1.75

Intermolecular Inc (NASDAQ:IMI) reached a new 52-week high during trading on Monday . The stock traded as high as $1.75 and last traded at $1.74, with a volume of 100 shares changing hands. The stock had previously closed at $1.74.

IMI has been the topic of several recent research reports. TheStreet raised shares of Intermolecular from a “d” rating to a “c-” rating in a report on Tuesday, June 5th. ValuEngine raised shares of Intermolecular from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Lake Street Capital started coverage on shares of Intermolecular in a report on Thursday. They issued a “buy” rating and a $3.00 price target on the stock.

Intermolecular (NASDAQ:IMI) last announced its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Intermolecular had a negative net margin of 14.05% and a negative return on equity of 14.29%. The firm had revenue of $9.68 million for the quarter.

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in Intermolecular by 12.3% in the fourth quarter. Renaissance Technologies LLC now owns 956,224 shares of the semiconductor company’s stock valued at $1,310,000 after purchasing an additional 104,624 shares in the last quarter. Barclays PLC purchased a new stake in Intermolecular in the first quarter valued at approximately $490,000. Finally, Emancipation Management LLC purchased a new stake in Intermolecular in the first quarter valued at approximately $262,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

Intermolecular Company Profile

Intermolecular, Inc engages in the development of advanced materials using high productivity combinatorial (HPC) technology platform for the semiconductors, consumer electronics, automotive, and aerospace industries worldwide. The company's HPC platform includes Tempus processing tools, automated characterization methods, and informatics analysis software for research and development using combinatorial process systems in concert with established chemical vapor deposition, physical vapor deposition, and atomic layer deposition methods.

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