Immersion Corp. (NASDAQ:IMMR) shares rose 5.4% during mid-day trading on Monday . The company traded as high as $8.26 and last traded at $8.05, with a volume of 188,653 shares trading hands. The stock had previously closed at $7.64.

IMMR has been the topic of a number of recent research reports. Craig Hallum upped their target price on shares of Immersion Corp. from $10.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. Zacks Investment Research downgraded shares of Immersion Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $12.00 price objective on shares of Immersion Corp. in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.20.

The firm’s market capitalization is $229.23 million. The stock has a 50 day moving average price of $7.27 and a 200-day moving average price of $7.32.

Immersion Corp. (NASDAQ:IMMR) last released its earnings results on Thursday, August 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $11.57 million. Immersion Corp. had a negative return on equity of 6.95% and a negative net margin of 13.23%. Immersion Corp.’s revenue was down 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, analysts expect that Immersion Corp. will post ($0.09) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. Vanguard Group Inc. raised its position in Immersion Corp. by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,073,136 shares of the company’s stock worth $7,877,000 after buying an additional 6,851 shares during the last quarter. BlackRock Fund Advisors raised its position in Immersion Corp. by 3.1% in the second quarter. BlackRock Fund Advisors now owns 750,375 shares of the company’s stock worth $5,508,000 after buying an additional 22,870 shares during the period. Royce & Associates LP raised its position in Immersion Corp. by 4.1% in the second quarter. Royce & Associates LP now owns 640,595 shares of the company’s stock worth $4,702,000 after buying an additional 25,000 shares during the period. Teachers Advisors Inc. raised its position in Immersion Corp. by 0.7% in the second quarter. Teachers Advisors Inc. now owns 553,726 shares of the company’s stock worth $4,064,000 after buying an additional 3,924 shares during the period. Finally, Clearline Capital LP raised its position in Immersion Corp. by 41.2% in the second quarter. Clearline Capital LP now owns 475,876 shares of the company’s stock worth $3,493,000 after buying an additional 138,958 shares during the period. 75.34% of the stock is currently owned by hedge funds and other institutional investors.

About Immersion Corp.

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.

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