Immersion Corporation (NASDAQ:IMMR) Given Average Rating of “Buy” by Brokerages

Immersion Corporation (NASDAQ:IMMR) has earned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.88.

A number of research firms recently weighed in on IMMR. Zacks Investment Research cut shares of Immersion Corporation from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Benchmark Co. initiated coverage on shares of Immersion Corporation in a report on Tuesday, April 25th. They issued a “buy” rating and a $12.00 price objective on the stock. ValuEngine raised shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, B. Riley reissued a “buy” rating and issued a $10.50 price objective on shares of Immersion Corporation in a research report on Sunday, May 7th.

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Shares of Immersion Corporation (NASDAQ:IMMR) traded up 1.16% during mid-day trading on Monday, hitting $8.70. The stock had a trading volume of 18,868 shares. The company’s market cap is $253.74 million. Immersion Corporation has a 52-week low of $6.24 and a 52-week high of $11.92. The stock has a 50 day moving average price of $8.60 and a 200-day moving average price of $9.45.

Immersion Corporation (NASDAQ:IMMR) last released its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30). The business had revenue of $9.22 million during the quarter, compared to analyst estimates of $11.09 million. Immersion Corporation had a negative net margin of 94.05% and a negative return on equity of 25.30%. Immersion Corporation’s quarterly revenue was down 32.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. On average, equities analysts expect that Immersion Corporation will post ($1.02) earnings per share for the current fiscal year.

In other Immersion Corporation news, Director Jack L. Saltich bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $8.26 per share, for a total transaction of $41,300.00. Following the completion of the transaction, the director now directly owns 113,239 shares of the company’s stock, valued at $935,354.14. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.22% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its stake in Immersion Corporation by 1.1% in the first quarter. Private Advisor Group LLC now owns 127,361 shares of the software maker’s stock valued at $1,065,000 after buying an additional 1,350 shares during the period. Chicago Equity Partners LLC purchased a new stake in Immersion Corporation during the first quarter worth about $1,645,000. Russell Investments Group Ltd. increased its stake in Immersion Corporation by 20.2% in the first quarter. Russell Investments Group Ltd. now owns 64,990 shares of the software maker’s stock worth $563,000 after buying an additional 10,900 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in Immersion Corporation by 34.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 808,736 shares of the software maker’s stock worth $7,003,000 after buying an additional 207,433 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its stake in Immersion Corporation by 6.9% in the fourth quarter. Ranger Investment Management L.P. now owns 67,200 shares of the software maker’s stock worth $714,000 after buying an additional 4,350 shares in the last quarter. Institutional investors and hedge funds own 75.92% of the company’s stock.

About Immersion Corporation

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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