Craig Hallum upgraded shares of Immersion (NASDAQ:IMMR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Craig Hallum currently has $12.00 price target on the software maker’s stock, up from their previous price target of $8.00.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Immersion from a hold rating to a buy rating and set a $7.25 target price for the company in a research note on Thursday, November 9th. B. Riley restated a buy rating and set a $9.75 price target on shares of Immersion in a report on Monday, October 30th. Finally, ValuEngine upgraded shares of Immersion from a sell rating to a hold rating in a report on Saturday, September 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Immersion presently has a consensus rating of Buy and an average price target of $10.83.

Shares of Immersion (NASDAQ IMMR) traded up $0.03 during trading hours on Tuesday, hitting $7.63. 341,834 shares of the company’s stock were exchanged, compared to its average volume of 447,262. The firm has a market cap of $222.89, a price-to-earnings ratio of -3.11, a P/E/G ratio of 1.41 and a beta of 1.36. Immersion has a 52 week low of $5.76 and a 52 week high of $11.85.

Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.16. The company had revenue of $11.90 million during the quarter, compared to analyst estimates of $7.33 million. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The company’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. research analysts expect that Immersion will post -1.12 earnings per share for the current year.

In other Immersion news, major shareholder Raging Capital Management, Llc purchased 326,366 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of $6.58 per share, for a total transaction of $2,147,488.28. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 1,432,482 shares of company stock worth $10,166,370 in the last 90 days. 7.22% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vident Investment Advisory LLC raised its holdings in Immersion by 60.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 1,393,439 shares of the software maker’s stock worth $11,384,000 after acquiring an additional 527,185 shares during the period. Vanguard Group Inc. raised its holdings in Immersion by 7.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock worth $11,653,000 after acquiring an additional 89,010 shares during the period. University of Notre Dame DU Lac bought a new position in Immersion in the 3rd quarter worth $5,810,000. State Street Corp raised its holdings in Immersion by 11.8% in the 2nd quarter. State Street Corp now owns 542,672 shares of the software maker’s stock worth $4,927,000 after acquiring an additional 57,476 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new position in Immersion in the 2nd quarter worth $3,827,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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Immersion 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 (NASDAQ:IMMR)

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