From CNBC: 2024-07-24 08:30:00

Immersion Corporation shares reached a new 52-week high of $13.59 before closing at $13.27, outperforming the tech sector and S&P 500 index. The company’s focus on haptic technology has driven top and bottom-line growth. Immersion’s robust performance is supported by its growing product portfolio, patents, and key partnerships.

Immersion’s leadership in haptic technology positions it to benefit from the expanding global market, forecasted to grow to $7.31 billion by 2030. The company’s strong intellectual property portfolio and diverse revenue streams from major license agreements ensure sustained growth. Recent partnerships with leading companies validate the effectiveness of Immersion’s products and drive long-term revenue growth.

Immersion’s financial performance in 2024 has been strong, with record revenues and earnings growth compared to the year-ago quarter. Analysts are positive about the company’s prospects, with significant upward revisions in the Zacks Consensus Estimate for 2024. The stock’s technical indicators reflect solid momentum and positive market sentiment surrounding Immersion’s future growth potential.

With multiple growth drivers in place and a clear path to sustained revenue and earnings growth, Immersion Corporation stands out as an attractive investment opportunity. The company’s strategic focus on cutting-edge haptic technology, strong market position, and robust financial performance make it a compelling choice for investors seeking substantial returns. Immersion is a Zacks Rank #1 (Strong Buy) stock with significant potential for future growth.



Read more at CNBC: Immersion (IMMR) Hits 52-Week High: What’s Next for Investors?