Wall Street brokerages expect Immersion Co. (NASDAQ:IMMR) to post $20.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Immersion’s earnings. The highest sales estimate is $32.69 million and the lowest is $8.00 million. Immersion posted sales of $9.22 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 120.7%. The firm is expected to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that Immersion will report full year sales of $86.57 million for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $0.00 per share. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Immersion.
Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. Immersion had a negative net margin of 129.35% and a negative return on equity of 146.48%. The business had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $6.32 million. During the same quarter in the previous year, the business posted ($0.27) earnings per share. The business’s revenue was down 25.8% compared to the same quarter last year.
IMMR has been the topic of a number of analyst reports. Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $12.00 in a research report on Tuesday, January 16th. Zacks Investment Research cut shares of Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Dougherty & Co reiterated a “buy” rating and set a $14.00 target price (up previously from $10.00) on shares of Immersion in a research report on Friday, February 23rd. B. Riley reaffirmed a “buy” rating and issued a $12.25 target price on shares of Immersion in a research note on Tuesday, January 30th. Finally, BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $12.25.
IMMR stock traded up $0.01 during mid-day trading on Friday, reaching $11.69. 81,772 shares of the stock traded hands, compared to its average volume of 986,189. Immersion has a one year low of $5.76 and a one year high of $12.85. The stock has a market capitalization of $344.12, a price-to-earnings ratio of -9.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.18.
In related news, VP Anne Marie Peters sold 10,443 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.00, for a total transaction of $125,316.00. Following the completion of the sale, the vice president now directly owns 62,305 shares of the company’s stock, valued at approximately $747,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nancy Erba sold 3,799 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $11.87, for a total value of $45,094.13. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $118,700. The disclosure for this sale can be found here. Insiders sold a total of 21,179 shares of company stock valued at $251,918 over the last ninety days. Corporate insiders own 7.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. Jane Street Group LLC grew its position in Immersion by 199.2% in the 3rd quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after acquiring an additional 58,555 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Immersion during the third quarter worth approximately $1,179,000. Tower Research Capital LLC TRC lifted its stake in Immersion by 193.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,278 shares of the software maker’s stock worth $157,000 after purchasing an additional 14,677 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Immersion during the fourth quarter worth approximately $248,000. Finally, University of Notre Dame DU Lac lifted its stake in Immersion by 37.4% during the fourth quarter. University of Notre Dame DU Lac now owns 977,371 shares of the software maker’s stock worth $6,900,000 after purchasing an additional 266,249 shares during the last quarter. 79.18% of the stock is owned by institutional investors.
WARNING: This article was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2018/04/16/immersion-co-immr-expected-to-announce-quarterly-sales-of-20-35-million.html.
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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Immersion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immersion and related companies with MarketBeat.com's FREE daily email newsletter.