Zacks Investment Research upgraded shares of Immersion Corporation (NASDAQ:IMMR) from a hold rating to a buy rating in a report released on Thursday, November 9th. They currently have $7.25 target price on the software maker’s stock.
According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “
A number of other research firms have also commented on IMMR. B. Riley reiterated a buy rating and issued a $9.75 price target on shares of Immersion Corporation in a research report on Monday, October 30th. Cowen and Company set a $11.00 price target on Immersion Corporation and gave the company a buy rating in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded Immersion Corporation from a sell rating to a hold rating in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $10.17.
Immersion Corporation (NASDAQ IMMR) remained flat at $$6.06 during trading on Thursday. The company’s stock had a trading volume of 83,195 shares, compared to its average volume of 226,864. Immersion Corporation has a fifty-two week low of $5.76 and a fifty-two week high of $11.92.
Immersion Corporation (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.16. The business had revenue of $11.90 million for the quarter, compared to analyst estimates of $7.33 million. Immersion Corporation had a negative return on equity of 100.50% and a negative net margin of 190.18%. Immersion Corporation’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. equities research analysts anticipate that Immersion Corporation will post -1.12 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. Thomson Horstmann & Bryant Inc. boosted its holdings in shares of Immersion Corporation by 8.7% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 879,376 shares of the software maker’s stock worth $7,984,000 after acquiring an additional 70,640 shares during the period. B. Riley Financial Inc. purchased a new stake in Immersion Corporation during the second quarter valued at about $758,000. Vanguard Group Inc. increased its holdings in shares of Immersion Corporation by 7.5% in the second quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock worth $11,653,000 after buying an additional 89,010 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of Immersion Corporation in the second quarter worth about $1,046,000. Finally, Geode Capital Management LLC increased its holdings in shares of Immersion Corporation by 3.0% in the first quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock worth $2,159,000 after buying an additional 7,191 shares during the period. 75.09% of the stock is owned by hedge funds and other institutional investors.
Immersion Corporation Company Profile
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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