Immersion Corporation (NASDAQ:IMMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, October 18th.
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 brokerages have also recently commented on IMMR. B. Riley reaffirmed a “buy” rating and set a $10.50 price target on shares of Immersion Corporation in a research report on Monday, July 31st. ValuEngine raised Immersion Corporation from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Finally, Cowen and Company set a $11.00 price objective on Immersion Corporation and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.75.
Shares of Immersion Corporation (IMMR) traded down $0.75 during trading hours on Wednesday, reaching $6.83. The company had a trading volume of 455,364 shares, compared to its average volume of 152,213. Immersion Corporation has a 52 week low of $6.22 and a 52 week high of $11.92.
Immersion Corporation (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.16. Immersion Corporation had a negative return on equity of 88.17% and a negative net margin of 190.18%. The firm had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $7.33 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. equities analysts forecast that Immersion Corporation will post -1.24 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Thomson Horstmann & Bryant Inc. increased its position in shares of Immersion Corporation by 8.7% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 879,376 shares of the software maker’s stock valued at $7,984,000 after purchasing an additional 70,640 shares during the last quarter. B. Riley Financial Inc. bought a new position in shares of Immersion Corporation during the 2nd quarter valued at about $758,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Immersion Corporation during the 2nd quarter valued at about $1,046,000. Vanguard Group Inc. increased its position in shares of Immersion Corporation by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock valued at $10,342,000 after purchasing an additional 69,383 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Immersion Corporation by 20.2% during the 1st quarter. Russell Investments Group Ltd. now owns 64,990 shares of the software maker’s stock valued at $563,000 after purchasing an additional 10,900 shares during the last quarter. Hedge funds and other institutional investors own 73.45% of the company’s stock.
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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