Cowen and Company set a $11.00 price target on Immersion Corporation (NASDAQ:IMMR) in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the software maker’s stock.

A number of other research firms also recently commented on IMMR. ValuEngine upgraded Immersion Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. B. Riley restated a buy rating and issued a $10.50 price objective on shares of Immersion Corporation in a report on Monday. Zacks Investment Research upgraded Immersion Corporation from a sell rating to a hold rating in a report on Thursday, July 6th. Finally, Benchmark Co. started coverage on Immersion Corporation in a report on Tuesday, April 25th. They issued a buy rating and a $12.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $11.08.

Shares of Immersion Corporation (NASDAQ IMMR) traded down 3.11% during mid-day trading on Wednesday, hitting $8.11. 128,899 shares of the company traded hands. The firm has a 50-day moving average price of $8.74 and a 200 day moving average price of $9.08. Immersion Corporation has a 52-week low of $6.24 and a 52-week high of $11.92. The firm’s market cap is $236.54 million.

Immersion Corporation (NASDAQ:IMMR) last released its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30). Immersion Corporation had a negative return on equity of 25.30% and a negative net margin of 94.05%. The firm had revenue of $9.22 million for the quarter, compared to the consensus estimate of $11.09 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was down 32.3% on a year-over-year basis. Equities research analysts anticipate that Immersion Corporation will post ($1.02) EPS for the current fiscal year.

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In other news, Director Jack L. Saltich acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $8.26 per share, for a total transaction of $41,300.00. Following the completion of the acquisition, the director now owns 113,239 shares of the company’s stock, valued at approximately $935,354.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.22% of the company’s stock.

A number of institutional investors have recently made changes to their positions in IMMR. Geode Capital Management LLC increased its position 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 valued at $2,159,000 after buying an additional 7,191 shares during the period. Vanguard Group Inc. increased its position in shares of Immersion Corporation by 6.2% in the first quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock valued at $10,342,000 after buying an additional 69,383 shares during the period. Dialectic Capital Management LP increased its position in shares of Immersion Corporation by 1.8% in the first quarter. Dialectic Capital Management LP now owns 227,361 shares of the software maker’s stock valued at $1,969,000 after buying an additional 4,054 shares during the period. Vident Investment Advisory LLC increased its position in shares of Immersion Corporation by 280.5% in the first quarter. Vident Investment Advisory LLC now owns 469,409 shares of the software maker’s stock valued at $4,065,000 after buying an additional 346,032 shares during the period. Finally, American International Group Inc. increased its position in shares of Immersion Corporation 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 period. Institutional investors own 76.03% 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.

Analyst Recommendations for Immersion Corporation (NASDAQ:IMMR)

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