Brokerages Issued $3.00 Target Price for Intermolecular Inc (IMI)

Brokerages Issued $3.00 Target Price for Intermolecular Inc (IMI)

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

Analysts have set a 1-year consensus target price of $3.00 for the company, according to Zacks. Zacks has also assigned Intermolecular an industry rank of 143 out of 255 based on the ratings given to related companies.

Separately, TheStreet cut shares of Intermolecular from a “c-” rating to a “d” rating in a research note on Monday, November 12th.

A number of institutional investors have recently modified their holdings of the business. Wealthsource Partners LLC acquired a new stake in Intermolecular in the 4th quarter worth about $29,000. Renaissance Technologies LLC raised its stake in Intermolecular by 10.6% in the 3rd quarter. Renaissance Technologies LLC now owns 1,214,480 shares of the semiconductor company’s stock worth $1,421,000 after purchasing an additional 116,310 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Intermolecular by 70.0% in the 2nd quarter. BlackRock Inc. now owns 121,626 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 50,101 shares in the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Shares of Intermolecular stock opened at $1.16 on Friday. Intermolecular has a twelve month low of $0.88 and a twelve month high of $1.98.

About Intermolecular

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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