BWS Financial analyst Hamed Khorsand maintained a Buy rating on Immersion (IMMR – Research Report) today and set a price target of $13.50.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Immersion’s strategic investments and financial stability. Immersion has reported a significant stake in Magnachip Semiconductor, which is currently exploring potential acquisition offers, suggesting a positive outlook for Immersion’s investment. Additionally, Immersion has a history of strategic ownership positions that often lead to impactful events, as evidenced by their substantial stake in Barnes & Noble Education and influence in Universal Electronics through board representation.
Another factor contributing to the Buy rating is Immersion’s strong financial position, with no debt and a noteworthy cash and securities balance. The company’s book value per share stands at $9.63, when accounting for investments at cost rather than market value, suggesting that the current stock price of $8.29 may be undervalued. This financial robustness, combined with strategic investment positions, supports Khorsand’s positive outlook on Immersion’s future performance.
Khorsand covers the Technology sector, focusing on stocks such as Adeia, Immersion, and Innodata. According to TipRanks, Khorsand has an average return of 9.6% and a 52.45% success rate on recommended stocks.