Immersion’s (IMMR) “Buy” Rating Reaffirmed at BWS Financial

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reiterated by equities researchers at BWS Financial in a research report issued on Thursday, Benzinga reports. They presently have a $11.00 target price on the software maker’s stock. BWS Financial’s target price indicates a potential upside of 54.49% from the company’s previous close.

Separately, StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research note on Friday, March 8th.

Immersion Trading Up 0.4 %

Shares of IMMR traded up $0.03 during trading hours on Thursday, reaching $7.12. 16,325 shares of the stock traded hands, compared to its average volume of 517,997. Immersion has a 52-week low of $5.94 and a 52-week high of $8.62. The company’s 50-day moving average price is $7.28 and its two-hundred day moving average price is $6.92. The company has a market cap of $225.70 million, a P/E ratio of 6.88 and a beta of 1.49.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.30. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The company had revenue of $10.38 million for the quarter, compared to analysts’ expectations of $9.25 million. On average, research analysts forecast that Immersion will post 1.11 EPS for the current year.

Insiders Place Their Bets

In other Immersion news, Director Elias Nader sold 13,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total value of $106,860.00. Following the sale, the director now owns 29,266 shares in the company, valued at approximately $240,566.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Immersion

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Immersion by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,875,995 shares of the software maker’s stock valued at $13,245,000 after buying an additional 78,048 shares in the last quarter. Barclays PLC grew its holdings in Immersion by 655.8% during the 4th quarter. Barclays PLC now owns 42,982 shares of the software maker’s stock valued at $304,000 after purchasing an additional 37,295 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Immersion by 5.5% during the 4th quarter. Nuveen Asset Management LLC now owns 57,810 shares of the software maker’s stock valued at $408,000 after purchasing an additional 2,991 shares during the last quarter. Royal Bank of Canada grew its holdings in Immersion by 8.7% during the 4th quarter. Royal Bank of Canada now owns 53,742 shares of the software maker’s stock valued at $379,000 after purchasing an additional 4,308 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Immersion by 8.8% during the 4th quarter. Northern Trust Corp now owns 303,389 shares of the software maker’s stock valued at $2,142,000 after purchasing an additional 24,428 shares during the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.