Immersion Corporation (IMMR) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.05. The company posted revenue of $13.60 million in the period, compared to analysts expectations of $13.89 million. The company’s revenue was down -16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.
Many Wall Street Analysts have commented on Immersion Corporation. Lake Street Initiated Immersion Corporation on Apr 18, 2016 to “Buy”, Price Target of the shares are set at $11.25.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 .
Immersion Corporation closed down -0.09 points or -1.25% at $7.09 with 1,47,366 shares getting traded on Wednesday. Post opening the session at $7.13, the shares hit an intraday low of $7.06 and an intraday high of $7.35 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.