A number of research firms have changed their ratings and price targets for Immersion (NASDAQ: IMMR):

  • 8/14/2019 – Immersion was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/8/2019 – Immersion was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.75 price target on the stock. 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. “
  • 8/2/2019 – Immersion had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $12.00 price target on the stock, down previously from $14.00.
  • 8/1/2019 – Immersion was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/1/2019 – Immersion was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/17/2019 – Immersion was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “

Shares of IMMR stock traded up $0.07 during trading hours on Monday, hitting $8.00. The stock had a trading volume of 2,745 shares, compared to its average volume of 314,534. Immersion Co. has a one year low of $7.02 and a one year high of $11.95. The stock’s 50-day moving average price is $7.66 and its two-hundred day moving average price is $8.42. The stock has a market capitalization of $246.19 million, a price-to-earnings ratio of 4.60 and a beta of 1.15.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.09). The company had revenue of $8.70 million during the quarter, compared to analysts’ expectations of $8.68 million. Immersion had a negative return on equity of 29.16% and a negative net margin of 82.38%. The company’s revenue was up 42.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) EPS. As a group, analysts forecast that Immersion Co. will post -0.54 EPS for the current year.

In other news, major shareholder Raging Capital Management, Llc bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $7.77 per share, with a total value of $310,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Opportunities Fund Lp Se Viex bought 94,292 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $7.60 per share, for a total transaction of $716,619.20. The disclosure for this purchase can be found here. Insiders purchased 156,791 shares of company stock valued at $1,201,337 in the last three months. 1.75% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of IMMR. Bank of New York Mellon Corp lifted its position in Immersion by 57.5% during the fourth quarter. Bank of New York Mellon Corp now owns 186,925 shares of the software maker’s stock valued at $1,674,000 after purchasing an additional 68,226 shares in the last quarter. Northern Trust Corp increased its stake in Immersion by 0.7% during the fourth quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock worth $3,241,000 after acquiring an additional 2,649 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Immersion by 20.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 824,751 shares of the software maker’s stock worth $7,390,000 after acquiring an additional 139,241 shares during the last quarter. Bank of America Corp DE increased its stake in Immersion by 48.9% during the fourth quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock worth $167,000 after acquiring an additional 6,142 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Immersion by 365.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,866 shares of the software maker’s stock valued at $88,000 after buying an additional 7,745 shares during the period. 73.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Oversold

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