In a report issued on January 7, Josh Nichols from B.Riley FBR maintained a Buy rating on Immersion Corp (IMMR), with a price target of $18. The company’s shares closed yesterday at $9.39.
Nichols noted:
“We do believe a Samsung license could potentially be materially larger than our assumption given that the handset maker previously licensed a broad base of IMMR IP as opposed to Apple’s license that only covers certain patents. Again, Samsung was previously a long-time licensee paying $20M/yr for IMMR’s IP before the last license lapsed at the end of 2015, and we do not believe the company will be able to sidestep IMMR’s 3,200+ issued and pending haptic patents. Risks Acquisition/Integration – The Company actively evaluates potential acquisitions as part of its growth strategy. Acquisitions pursued by the Company could be dilutive to financial results and result in a difficult, dilutive or expensive integration.”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 10.5% and a 38.3% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Horizon Global, and OSI Systems.
Immersion Corp has an analyst consensus of Moderate Buy, with a price target consensus of $18.
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Immersion Corp’s market cap is currently $291.4M and has a P/E ratio of 6.43. The company has a Price to Book ratio of 2.88.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IMMR in relation to earlier this year. Most recently, in December 2018, David Sugishita, a Director at IMMR sold 50,273 shares for a total of $481,834.
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Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The firm 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.
