Immersion Corporation (IMMR) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $-0.20 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $-0.16. The company posted revenue of $7.90 million in the period, compared to analysts expectations of $11.57 million. The company’s revenue was down -51.2% 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. Company shares were Reiterated by Craig Hallum on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .
Immersion Corporation opened for trading at $7.5 and hit $7.67 on the upside on Tusday, eventually ending the session at $7.49, with a gain of 0.40% or 0.03 points. The heightened volatility saw the trading volume jump to 2,09,998 shares. Company has a market cap of $216 M.
In a different news, on Jun 23, 2016, Mahesh Sundaram (VP, Worldwide OEM Sales) sold 10,329 shares at $7.00 per share price. According to the SEC, on May 13, 2015, Jason Patton (VP/GM,Content & Media Business) sold 1,855 shares at $11.90 per share price. On Feb 26, 2015, Paul F Norris (Chief Financial Officer) sold 1,492 shares at $8.32 per share price, according to the Form-4 filing with the securities and exchange commission.
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.