B.Riley FBR Issues a Buy Rating on Immersion Corp

By Austin Angelo

B.Riley FBR analyst Josh Nichols assigned a Buy rating to Immersion Corp (NASDAQ: IMMR) yesterday and set a price target of $9.75. The company’s shares closed yesterday at $7.61.

Nichols observed:

“We model $19MM in 2018 EBITDA due to an expected revenue increase and lower opex that assumes a more steady-state operating environment devoid of major litigation. Regardless of the litigation overhang, we continue to believe IMMR’s entrenched IP and capital-light business model provide a strong platform for long-term growth.”

According to TipRanks.com, Nichols is a 5-star analyst with an average return of 32.5% and a 45.5% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Pointer Telocation Ltd, ID Systems, and Kemet Corp.

Immersion Corp has an analyst consensus of Moderate Buy, with a price target consensus of $9.75.

Based on Immersion Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $11.86 million and GAAP net loss of $5.29 million. In comparison, last year the company earned revenue of $26.31 million and had a net profit of $7.02 million.

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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.