Immersion Corporation (IMMR) was Initiated by Lake Street to “Buy” and the brokerage firm has set the Price Target at $11.25. Lake Street advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on Immersion Corporation. Shares were Reiterated by Craig Hallum on Feb 26, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $16 .
On the company’s financial health, Immersion Corporation reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.02. The company had revenue of $16.60 million for the quarter, compared to analysts expectations of $13.70 million. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.
Immersion Corporation opened for trading at $8.04 and hit $8.26 on the upside on Friday, eventually ending the session at $8.15, with a gain of 0.62% or 0.05 points. The heightened volatility saw the trading volume jump to 2,44,029 shares. Company has a market cap of $231 M.
In a different news, on May 13, 2015, Jason Patton (VP/GM,Content & Media Business) sold 1,855 shares at $11.90 per share price. According to the SEC, on Feb 26, 2015, Paul F Norris (Chief Financial Officer) sold 1,492 shares at $8.32 per share price.
Immersion Corporation is an intellectual property (IP) and software licensing company focused on the creation design development and licensing of haptic innovations and software that allow people to use their sense of touch more when operating a range of digital devices. The Company is focusing its marketing and business development activities on the following markets: mobile devices wearables consumer mobile entertainment and other content; console gaming; automotive; medical and commercial. In the target markets it licenses the software and IP to manufacturers for use in products sold under their own brand names. It has software licenses for TouchSense TouchSense 1000 TouchSense 2000 TouchSense Core Integrator and TouchSense Engage. It offers patent licenses in Basic Haptics and Force Feedback. It also offers Turn-key Engineering and Integration Services Design Kits for Prototyping Authoring Tools Application Programming Interfaces and Platform Independent Solutions.