Zacks Investment Research cut shares of Immersion Corporation (NASDAQ:IMMR) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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 also recently issued reports on IMMR. B. Riley restated a buy rating and set a $10.50 price objective on shares of Immersion Corporation in a research report on Tuesday, May 2nd. ValuEngine upgraded Immersion Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Cowen and Company set a $11.00 price objective on Immersion Corporation and gave the company a buy rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $10.96.

Immersion Corporation (NASDAQ:IMMR) traded down 1.25% during mid-day trading on Thursday, hitting $7.12. The stock had a trading volume of 74,960 shares. The firm’s market cap is $208.35 million. The company’s 50 day moving average price is $7.95 and its 200 day moving average price is $8.71. 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 data on Thursday, August 3rd. The software maker reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.01. Immersion Corporation had a negative net margin of 113.47% and a negative return on equity of 43.56%. The company had revenue of $7 million for the quarter, compared to analysts’ expectations of $8.94 million. During the same quarter last year, the company earned ($0.20) earnings per share. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts anticipate that Immersion Corporation will post ($1.22) earnings per share for the current year.

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Large investors have recently modified their holdings of the company. Blair William & Co. IL acquired a new stake in shares of Immersion Corporation during the first quarter valued at $109,000. American International Group Inc. increased its stake 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 last quarter. Voya Investment Management LLC increased its stake in shares of Immersion Corporation by 14.1% in the second quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after buying an additional 2,501 shares during the last quarter. Lucus Advisors LLC acquired a new stake in shares of Immersion Corporation during the first quarter valued at $191,000. Finally, Sei Investments Co. acquired a new stake in shares of Immersion Corporation during the second quarter valued at $221,000. Hedge funds and other institutional investors own 74.92% 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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