Zacks: Analysts Anticipate Immersion Corporation (IMMR) Will Announce Quarterly Sales of $6.02 Million
Wall Street brokerages expect Immersion Corporation (NASDAQ:IMMR) to report $6.02 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Immersion’s earnings, with the lowest sales estimate coming in at $6.00 million and the highest estimate coming in at $6.04 million. Immersion posted sales of $9.29 million during the same quarter last year, which suggests a negative year over year growth rate of 35.2%. The business is expected 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 year, with estimates ranging from $34.12 million to $34.16 million. For the next fiscal year, analysts expect that the firm will report 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 sell-side analysts that cover Immersion.
Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.16. The firm had revenue of $11.90 million during the quarter, compared to analyst estimates of $7.33 million. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The company’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS.
Several brokerages have recently issued reports on IMMR. ValuEngine lowered shares of Immersion from a “sell” rating to a “strong sell” rating in a research note on Friday, November 17th. B. Riley restated a “buy” rating and set a $10.50 price target on shares of Immersion in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research note on Thursday, November 9th. Finally, Cowen Inc set a $11.00 price target on shares of Immersion and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.17.
A number of institutional investors have recently added to or reduced their stakes in IMMR. American International Group Inc. grew its stake in Immersion by 7.1% in the 1st quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock valued at $154,000 after buying an additional 1,182 shares in the last quarter. Vanguard Group Inc. grew its stake in Immersion by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock valued at $10,342,000 after buying an additional 69,383 shares in the last quarter. Geode Capital Management LLC grew its stake in Immersion by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock valued at $2,159,000 after buying an additional 7,191 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Immersion by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 347,922 shares of the software maker’s stock valued at $3,013,000 after buying an additional 38,284 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Immersion in the 2nd quarter valued at approximately $221,000. Institutional investors and hedge funds own 75.09% of the company’s stock.
Shares of Immersion (NASDAQ:IMMR) opened at $6.23 on Monday. Immersion has a one year low of $5.76 and a one year high of $11.92.
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Immersion Company Profile
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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