Cypress Capital Management LLC WY bought a new stake in Immersion Co. (NASDAQ:IMMR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 46,690 shares of the software maker’s stock, valued at approximately $494,000. Cypress Capital Management LLC WY owned about 0.15% of Immersion at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. EAM Investors LLC purchased a new stake in shares of Immersion in the second quarter valued at approximately $1,135,000. GSA Capital Partners LLP purchased a new stake in shares of Immersion in the second quarter valued at approximately $1,136,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Immersion by 219.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 202,999 shares of the software maker’s stock valued at $3,135,000 after buying an additional 139,354 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Immersion in the second quarter valued at approximately $434,000. Finally, Sterling Capital Management LLC purchased a new stake in shares of Immersion in the second quarter valued at approximately $782,000. Institutional investors own 76.28% of the company’s stock.
IMMR has been the topic of a number of analyst reports. Craig Hallum decreased their price target on Immersion from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, August 3rd. BidaskClub upgraded Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut Immersion from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 12th. Finally, ValuEngine cut Immersion from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Immersion has a consensus rating of “Hold” and an average price target of $14.06.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The firm had revenue of $6.14 million for the quarter, compared to analyst estimates of $9.56 million. Immersion had a return on equity of 86.57% and a net margin of 40.38%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.51) earnings per share. Analysts predict that Immersion Co. will post 1.75 EPS for the current year.
Immersion Company Profile
Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.
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