Insider Selling: Intermolecular CEO Sells 38,500 Shares of Stock (IMI)
Intermolecular (NYSE:IMI) CEO David Lazovsky unloaded 38,500 shares of Intermolecular stock on the open market in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $5.80, for a total transaction of $223,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,827,190 shares in the company, valued at approximately $16,397,702. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
IMI has been the subject of a number of recent research reports. Analysts at Needham & Company cut their price target on shares of Intermolecular from $12.00 to $10.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Intermolecular to a “neutral” rating in a research note to investors on Wednesday, July 10th. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Intermolecular from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, July 10th. They now have a $12.00 price target on the stock, down previously from $15.00.
Intermolecular (NYSE:IMI) traded down 0.69% on Tuesday, hitting $5.74. The stock had a trading volume of 109,375 shares. Intermolecular has a 1-year low of $5.41 and a 1-year high of $10.69. The stock’s 50-day moving average is $5.84 and its 200-day moving average is $7.42. The company’s market cap is $259.6 million.
Intermolecular (NYSE:IMI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.02. The company had revenue of $16.60 million for the quarter, compared to the consensus estimate of $16.54 million. During the same quarter last year, the company posted ($0.02) earnings per share. Intermolecular’s revenue was up .6% compared to the same quarter last year. Analysts expect that Intermolecular will post $-0.01 EPS for the current fiscal year.
Intermolecular, Inc (NYSE:IMI) is engaged in research and development and time-to-market for the semiconductor and clean-energy industries.
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