Immersion (NASDAQ:IMMR) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $12.00 price objective on the software maker’s stock, up from their previous price objective of $8.00. Craig Hallum’s price target points to a potential upside of 69.01% from the stock’s previous close.

Several other brokerages also recently commented on IMMR. Zacks Investment Research raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. B. Riley reissued a “buy” rating and issued a $9.75 price target on shares of Immersion in a report on Monday, October 30th. Finally, ValuEngine raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. One investment 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. The stock currently has an average rating of “Buy” and an average price target of $10.83.

Immersion (NASDAQ IMMR) opened at $7.10 on Tuesday. The company has a market cap of $207.68, a P/E ratio of -2.90, a P/E/G ratio of 1.35 and a beta of 1.36. Immersion has a fifty-two week low of $5.76 and a fifty-two week high of $11.85.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.16. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was down 54.8% compared to the same quarter last year. equities analysts predict that Immersion will post -1.12 EPS for the current year.

In other news, major shareholder Raging Capital Management, Llc purchased 154,997 shares of the business’s stock in a transaction on Friday, December 1st. The stock was purchased at an average cost of $7.27 per share, with a total value of $1,126,828.19. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders acquired 1,432,482 shares of company stock valued at $10,166,370. Insiders own 7.22% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its position in shares of Immersion by 14.1% during the 2nd 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 in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Immersion during the 2nd quarter valued at $221,000. Alliancebernstein L.P. purchased a new stake in shares of Immersion during the 2nd quarter valued at $232,000. The Manufacturers Life Insurance Company raised its position in shares of Immersion by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after buying an additional 1,929 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Immersion by 199.2% during the 3rd quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after buying an additional 58,555 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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About Immersion

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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