Craig-Hallum analyst Anthony Stoss reiterated a Buy rating on Immersion (IMMR – Research Report) today and set a price target of $10.00. The company’s shares opened today at $7.20.
According to TipRanks, Stoss is a 5-star analyst with an average return of 14.2% and a 56.27% success rate. Stoss covers the Technology sector, focusing on stocks such as Enovix, Digital Turbine, and ON Semiconductor.
Immersion has an analyst consensus of Moderate Buy, with a price target consensus of $10.50, representing a 45.83% upside. In a report released today, BWS Financial also maintained a Buy rating on the stock with a $11.00 price target.
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Based on Immersion’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.92 million and a net profit of $7.03 million. In comparison, last year the company earned a revenue of $7.98 million and had a GAAP net loss of $1.82 million
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMMR in relation to earlier this year. Most recently, in June 2023, Akerman Aaron, an Insider at IMMR sold 20,772.00 shares for a total of $162,456.08.
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Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The company offers touch sense platform and design services. It focuses on the following target application areas: mobile devices, wearable, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial. The company was founded in 1993 and is headquartered in San Jose, CA.
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