Immersion (IMMR) Upgraded by Craig Hallum to Buy
Craig Hallum upgraded shares of Immersion (NASDAQ:IMMR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. They currently have $15.00 price objective on the software maker’s stock, up from their prior price objective of $14.00.
Several other research firms also recently weighed in on IMMR. ValuEngine downgraded Immersion from a buy rating to a hold rating in a report on Monday, July 2nd. BidaskClub downgraded Immersion from a strong-buy rating to a buy rating in a report on Tuesday, June 19th. Dougherty & Co downgraded Immersion from a buy rating to a neutral rating in a report on Tuesday, June 26th. Finally, Zacks Investment Research downgraded Immersion from a strong-buy rating to a hold rating in a research note on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Immersion currently has a consensus rating of Hold and a consensus price target of $14.06.
Immersion stock opened at $10.94 on Wednesday. Immersion has a fifty-two week low of $5.76 and a fifty-two week high of $17.70. The stock has a market capitalization of $313.86 million, a PE ratio of -9.19, a PEG ratio of 0.39 and a beta of 0.88.
A number of institutional investors and hedge funds have recently bought and sold shares of IMMR. Premia Global Advisors LLC purchased a new stake in Immersion during the 2nd quarter valued at approximately $105,000. Stifel Financial Corp purchased a new stake in Immersion during the 1st quarter valued at approximately $128,000. Tower Research Capital LLC TRC purchased a new stake in Immersion during the 2nd quarter valued at approximately $162,000. MetLife Investment Advisors LLC purchased a new stake in Immersion during the 1st quarter valued at approximately $168,000. Finally, First Quadrant L P CA purchased a new stake in Immersion during the 2nd quarter valued at approximately $181,000. 75.94% of the stock is owned by hedge funds and other institutional investors.
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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.
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