Immersion (NASDAQ:IMMR) Rating Increased to Buy at ValuEngine

Immersion (NASDAQ:IMMR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

A number of other research firms have also recently commented on IMMR. BidaskClub upgraded Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday. Dougherty & Co upgraded Immersion from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, May 14th. TheStreet cut Immersion from a “c” rating to a “d” rating in a research note on Friday, May 31st. Finally, Zacks Investment Research cut Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Immersion presently has a consensus rating of “Hold” and an average price target of $10.94.

NASDAQ IMMR traded up $0.11 during mid-day trading on Thursday, hitting $8.08. The company’s stock had a trading volume of 773,614 shares, compared to its average volume of 221,455. The firm’s 50 day moving average price is $7.56. Immersion has a twelve month low of $7.02 and a twelve month high of $11.95. The stock has a market capitalization of $251.48 million, a price-to-earnings ratio of 4.64 and a beta of 1.15.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.09). The firm had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $8.68 million. Immersion had a negative return on equity of 28.16% and a negative net margin of 82.38%. Immersion’s revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share. Equities research analysts predict that Immersion will post -0.54 EPS for the current year.

In other news, major shareholder Opportunities Fund Lp Se Viex acquired 94,292 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $716,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in IMMR. Municipal Employees Retirement System of Michigan raised its position in shares of Immersion by 59.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 59,970 shares of the software maker’s stock worth $456,000 after acquiring an additional 22,400 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Immersion in the 1st quarter worth $102,000. B. Riley Financial Inc. raised its position in shares of Immersion by 5.3% in the 1st quarter. B. Riley Financial Inc. now owns 20,000 shares of the software maker’s stock worth $169,000 after acquiring an additional 1,000 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Immersion in the 1st quarter worth $636,000. Finally, Alps Advisors Inc. raised its position in shares of Immersion by 12.1% in the 1st quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock worth $407,000 after acquiring an additional 5,190 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

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.

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