Zacks: Analysts Anticipate Immersion Co. (NASDAQ:IMMR) Will Announce Earnings of $0.02 Per Share

Brokerages predict that Immersion Co. (NASDAQ:IMMR) will announce earnings of $0.02 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Immersion’s earnings. Immersion posted earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year-over-year growth rate of 128.6%. The company is scheduled to report its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Immersion will report full-year earnings of ($0.31) per share for the current year. For the next fiscal year, analysts forecast that the business will report earnings of $0.37 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Immersion.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $8.70 million during the quarter, compared to analyst estimates of $8.68 million. Immersion had a negative net margin of 82.38% and a negative return on equity of 28.16%. The business’s revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share.

Several equities analysts have weighed in on IMMR shares. Dougherty & Co raised Immersion from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, May 14th. BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. ValuEngine raised Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Immersion from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Thursday, August 8th. Finally, TheStreet downgraded Immersion from a “c” rating to a “d” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Immersion presently has an average rating of “Buy” and a consensus target price of $10.81.

In other Immersion news, major shareholder Opportunities Fund Lp Se Viex purchased 94,292 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $7.60 per share, with a total value of $716,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Raging Capital Management, Llc purchased 40,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $7.77 per share, with a total value of $310,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 156,791 shares of company stock valued at $1,201,337. Corporate insiders own 1.75% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Financial Inc. lifted its holdings in shares of Immersion by 5.3% in the first quarter. B. Riley Financial Inc. now owns 20,000 shares of the software maker’s stock valued at $169,000 after buying an additional 1,000 shares during the period. Northern Trust Corp lifted its position in Immersion by 0.7% in the 4th quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock valued at $3,241,000 after acquiring an additional 2,649 shares in the last quarter. Alps Advisors Inc. lifted its position in Immersion by 12.1% in the 1st quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock valued at $407,000 after acquiring an additional 5,190 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Immersion by 49,118.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,414 shares of the software maker’s stock valued at $46,000 after acquiring an additional 5,403 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Immersion by 48.9% in the 4th quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock valued at $167,000 after acquiring an additional 6,142 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

NASDAQ IMMR traded up $0.29 during trading on Tuesday, hitting $8.21. The stock had a trading volume of 469,833 shares, compared to its average volume of 340,026. The company has a market capitalization of $259.06 million, a P/E ratio of 4.72 and a beta of 1.15. The business’s 50 day moving average is $7.64. Immersion has a twelve month low of $7.02 and a twelve month high of $11.95.

About Immersion

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.

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