Immersion (NASDAQ:IMMR) Rating Increased to Hold at BidaskClub

Immersion (NASDAQ:IMMR) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Dougherty & Co upgraded shares of Immersion from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, May 14th. Craig Hallum reiterated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of Immersion in a research report on Friday, August 2nd. TheStreet downgraded shares of Immersion from a “c” rating to a “d” rating in a research report on Friday, May 31st. Finally, Zacks Investment Research raised Immersion from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $10.81.

Shares of NASDAQ IMMR opened at $7.77 on Wednesday. The firm’s 50-day simple moving average is $7.65 and its 200 day simple moving average is $8.43. The company has a market cap of $259.06 million, a price-to-earnings ratio of 4.47 and a beta of 1.15. Immersion has a 12-month low of $7.02 and a 12-month high of $11.95.



Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.09). The company had revenue of $8.70 million for the quarter, compared to analyst estimates of $8.68 million. Immersion had a negative return on equity of 28.16% and a negative net margin of 82.38%. The firm’s quarterly revenue was up 42.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS. On average, research analysts predict that Immersion will post -0.54 earnings per share for the current year.

In other news, major shareholder Raging Capital Management, Llc acquired 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $7.74 per share, with a total value of $154,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Opportunities Fund Lp Se Viex acquired 94,292 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were purchased at an average cost of $7.60 per share, with a total value of $716,619.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 156,791 shares of company stock valued at $1,201,337 over the last three months. Company insiders own 1.75% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its position in Immersion by 10.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 219,233 shares of the software maker’s stock worth $1,668,000 after buying an additional 20,951 shares during the period. Cubist Systematic Strategies LLC increased its position in Immersion by 65.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 36,648 shares of the software maker’s stock worth $279,000 after buying an additional 14,469 shares during the period. ETF Managers Group LLC increased its position in Immersion by 21.2% during the 2nd quarter. ETF Managers Group LLC now owns 53,618 shares of the software maker’s stock worth $407,000 after buying an additional 9,372 shares during the period. Tower Research Capital LLC TRC bought a new position in Immersion during the 2nd quarter worth $119,000. Finally, BlackRock Inc. increased its position in Immersion by 17.1% during the 2nd quarter. BlackRock Inc. now owns 2,132,929 shares of the software maker’s stock worth $16,231,000 after buying an additional 311,166 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

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 patent licenses, haptic technologies to original equipment manufacturers.

Recommended Story: Operating Income

Receive News & Ratings for Immersion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immersion and related companies with MarketBeat.com's FREE daily email newsletter.