Immersion Corporation (IMMR) Upgraded to “Hold” by Zacks Investment Research
Immersion Corporation (NASDAQ:IMMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Other equities research analysts have also recently issued reports about the company. B. Riley initiated coverage on Immersion Corporation in a research note on Thursday, August 10th. They issued a “buy” rating and a $9.75 target price on the stock. Cowen and Company set a $11.00 target price on Immersion Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine raised Immersion Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Immersion Corporation has an average rating of “Buy” and an average target price of $10.75.
Immersion Corporation (NASDAQ:IMMR) opened at 8.41 on Wednesday. The firm’s 50-day moving average price is $7.78 and its 200 day moving average price is $8.23. Immersion Corporation has a 52 week low of $6.22 and a 52 week high of $11.92. The company’s market capitalization is $246.09 million.
Immersion Corporation (NASDAQ:IMMR) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Immersion Corporation had a negative return on equity of 43.56% and a negative net margin of 113.47%. The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $8.94 million. During the same period in the prior year, the company posted ($0.20) earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. Equities research analysts expect that Immersion Corporation will post ($1.22) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in IMMR. American International Group Inc. boosted its position in shares of Immersion Corporation by 7.1% during 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 boosted its position in shares of Immersion Corporation by 14.1% during 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. Tudor Investment Corp ET AL boosted its position in shares of Immersion Corporation by 66.5% during the first quarter. Tudor Investment Corp ET AL now owns 25,149 shares of the software maker’s stock valued at $218,000 after buying an additional 10,046 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Immersion Corporation during the second quarter valued at $221,000. Finally, ETF Managers Group LLC purchased a new stake in shares of Immersion Corporation during the second quarter valued at $221,000. 74.41% of the stock is currently owned by institutional investors.
About Immersion Corporation
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.
Receive News & Ratings for Immersion Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immersion Corporation and related companies with MarketBeat.com's FREE daily email newsletter.