Immersion: Undervalued, With A Bevy Of Potential Catalysts On Tap

2025-03-03 23:54:08 ET

Summary

• Immersion a holding company with a myriad of interests in public companies and a patent portfolio, is trading at as much as a 34.4% discount to its underlying value.
• Better yet, there are many ways IMMR could bridge this valuation gap, and then some.
• Tapping into an existing share repurchase program could add material upward pressure to IMMR stock.
• Other catalysts, like further patent litigation success, could send this $8 per share stock back up towards $14 per share.

Immersion ( IMMR ), historically licensor of haptic (touch-feedback) technology, has in recent years become more of a holding company. Back in December, I discussed how owning IMMR stock, rather than shares in its largest publicly-traded holding, Barnes & Noble Education ( BNED ) could be a better way to speculate on the BNED turnaround .

I believed it to be a solid buy at the time, taking a second look, IMMR is looking like even more of a screaming buy. This is not because of recent price action, which has pushed shares slightly lower in recent months. Nor does it have to do with recent developments, which have been relatively "small-potatoes" in terms of their material impact to the IMMR story....

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