Zacks: Brokerages Set $3.00 Target Price for Intermolecular Inc (IMI)

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Shares of Intermolecular Inc (NASDAQ:IMI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price target of $3.00 for the company, according to Zacks. Zacks has also given Intermolecular an industry rank of 50 out of 255 based on the ratings given to its competitors.

Several research analysts recently commented on IMI shares. ValuEngine upgraded shares of Intermolecular from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Lake Street Capital started coverage on shares of Intermolecular in a research note on Thursday, June 28th. They set a “buy” rating and a $3.00 price objective for the company. Finally, TheStreet upgraded shares of Intermolecular from a “d” rating to a “c-” rating in a research note on Tuesday, June 5th.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Intermolecular by 70.0% during the 2nd quarter. BlackRock Inc. now owns 121,626 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 50,101 shares in the last quarter. Renaissance Technologies LLC increased its stake in Intermolecular by 12.3% during the 4th quarter. Renaissance Technologies LLC now owns 956,224 shares of the semiconductor company’s stock valued at $1,310,000 after purchasing an additional 104,624 shares in the last quarter. Emancipation Management LLC acquired a new position in Intermolecular during the 1st quarter valued at approximately $262,000. Finally, Barclays PLC acquired a new position in Intermolecular during the 1st quarter valued at approximately $490,000. Hedge funds and other institutional investors own 37.07% of the company’s stock.

Shares of IMI traded up $0.05 during mid-day trading on Tuesday, hitting $1.23. The company’s stock had a trading volume of 36,947 shares, compared to its average volume of 73,193. Intermolecular has a 52-week low of $0.86 and a 52-week high of $1.98.

Intermolecular (NASDAQ:IMI) last announced its quarterly earnings results on Monday, August 6th. The semiconductor company reported $0.01 earnings per share for the quarter. The firm had revenue of $9.80 million during the quarter. Intermolecular had a negative net margin of 4.76% and a negative return on equity of 5.07%.

Intermolecular Company Profile

Intermolecular, Inc engages in the development of advanced materials using high productivity combinatorial (HPC) technology platform for the semiconductors, consumer electronics, automotive, and aerospace industries worldwide. The company's HPC platform includes Tempus processing tools, automated characterization methods, and informatics analysis software for research and development using combinatorial process systems in concert with established chemical vapor deposition, physical vapor deposition, and atomic layer deposition methods.

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