Raymond James & Associates purchased a new stake in shares of Immersion Co. (NASDAQ:IMMR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,540 shares of the software maker’s stock, valued at approximately $286,000. Raymond James & Associates owned approximately 0.06% of Immersion as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMMR. Premia Global Advisors LLC bought a new stake in Immersion in the second quarter worth $105,000. Stifel Financial Corp bought a new stake in Immersion in the first quarter worth $128,000. First Quadrant L P CA bought a new stake in Immersion in the second quarter worth $181,000. Engineers Gate Manager LP bought a new stake in Immersion in the second quarter worth $200,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Immersion in the first quarter worth $287,000. Institutional investors own 76.28% of the company’s stock.
IMMR has been the topic of a number of research analyst reports. BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research downgraded Immersion from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 12th. Craig Hallum lowered their price target on Immersion from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. Finally, ValuEngine downgraded Immersion from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.06.
Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, August 2nd. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). The business had revenue of $6.14 million for the quarter, compared to the consensus estimate of $9.56 million. Immersion had a net margin of 40.38% and a return on equity of 86.57%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.51) earnings per share. On average, analysts predict that Immersion Co. will post 1.75 EPS for the current year.
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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