Shares of Immersion Co. (NASDAQ:IMMR) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $10.75.
Several research firms have issued reports on IMMR. B. Riley began coverage on Immersion in a report on Saturday. They set a “buy” rating and a $9.75 price objective on the stock. Cowen and Company set a $11.00 price objective on Immersion and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Immersion from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. ValuEngine upgraded Immersion from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Benchmark Co. started coverage on Immersion in a report on Tuesday, April 25th. They set a “buy” rating and a $12.00 price objective on the stock.
In other news, Director Jack L. Saltich bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $8.26 per share, for a total transaction of $41,300.00. Following the transaction, the director now owns 113,239 shares in the company, valued at $935,354.14. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 7.22% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of IMMR. Blair William & Co. IL purchased a new position in shares of Immersion during the first quarter valued at approximately $109,000. American International Group Inc. raised its position in shares of Immersion by 7.1% in the first quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock valued at $154,000 after buying an additional 1,182 shares during the last quarter. Lucus Advisors LLC purchased a new position in shares of Immersion during the first quarter valued at approximately $191,000. Tudor Investment Corp ET AL raised its position in shares of Immersion by 66.5% in the first quarter. Tudor Investment Corp ET AL now owns 25,149 shares of the software maker’s stock valued at $218,000 after buying an additional 10,046 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Immersion during the second quarter valued at approximately $221,000. Institutional investors own 76.08% of the company’s stock.
Immersion (NASDAQ IMMR) traded down 2.22% during midday trading on Tuesday, hitting $6.61. The stock had a trading volume of 384,104 shares. Immersion has a 12-month low of $6.22 and a 12-month high of $11.92. The company’s market cap is $192.79 million. The company has a 50-day moving average price of $8.66 and a 200-day moving average price of $9.05.
Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.01. Immersion had a negative return on equity of 193.47% and a negative net margin of 211.17%. The business had revenue of $7 million for the quarter, compared to analysts’ expectations of $8.94 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Immersion’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Immersion will post ($1.15) EPS for the current year.
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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