Brokerages Anticipate Immersion Co. (IMMR) Will Announce Quarterly Sales of $6.02 Million

Analysts expect that Immersion Co. (NASDAQ:IMMR) will report sales of $6.02 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Immersion’s earnings. The lowest sales estimate is $6.00 million and the highest is $6.04 million. Immersion posted sales of $9.29 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 35.2%. The company is scheduled to report its next quarterly earnings report on Thursday, March 1st.

On average, analysts expect that Immersion will report full year sales of $6.02 million for the current financial year, with estimates ranging from $34.12 million to $34.16 million. For the next year, analysts forecast that the company will post sales of $50.51 million per share, with estimates ranging from $34.00 million to $67.02 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Immersion.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.16. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm had revenue of $11.90 million for the quarter, compared to the consensus estimate of $7.33 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business’s revenue was down 54.8% on a year-over-year basis.

Several research analysts have weighed in on IMMR shares. Zacks Investment Research upgraded shares of Immersion from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. ValuEngine upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Friday, December 1st. B. Riley restated a “buy” rating and set a $9.75 price objective on shares of Immersion in a report on Monday, October 30th. Finally, Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $12.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.83.

Immersion (NASDAQ:IMMR) opened at $7.42 on Thursday. Immersion has a 1-year low of $5.76 and a 1-year high of $11.85. The firm has a market cap of $217.63, a price-to-earnings ratio of -3.03, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36.

In other news, major shareholder Raging Capital Management, Llc bought 411,998 shares of the stock in a transaction dated Monday, December 4th. The stock was bought at an average price of $7.31 per share, for a total transaction of $3,011,705.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders bought 1,432,482 shares of company stock valued at $10,166,370. 7.22% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Immersion by 7.5% in the second quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock valued at $11,653,000 after purchasing an additional 89,010 shares during the last quarter. B. Riley Financial Inc. grew its position in Immersion by 76.7% during the third quarter. B. Riley Financial Inc. now owns 147,453 shares of the software maker’s stock valued at $1,205,000 after buying an additional 64,013 shares during the period. TIAA CREF Investment Management LLC grew its position in Immersion by 32.3% during the second quarter. TIAA CREF Investment Management LLC now owns 99,785 shares of the software maker’s stock valued at $906,000 after buying an additional 24,384 shares during the period. University of Notre Dame DU Lac bought a new position in Immersion during the third quarter valued at about $5,810,000. Finally, PEAK6 Investments L.P. grew its position in Immersion by 265.8% during the third quarter. PEAK6 Investments L.P. now owns 201,832 shares of the software maker’s stock valued at $1,649,000 after buying an additional 146,653 shares during the period. Institutional investors own 78.98% of the company’s stock.

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About Immersion

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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