Immersion (IMMR) Upgraded to “Hold” at Zacks Investment Research

Immersion (NASDAQ:IMMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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 analysts also recently issued reports about the stock. Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Wednesday, September 12th. BidaskClub upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Finally, ValuEngine downgraded shares of Immersion from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.06.

Shares of NASDAQ IMMR opened at $8.40 on Friday. Immersion has a fifty-two week low of $6.31 and a fifty-two week high of $17.70. The company has a market cap of $269.22 million, a price-to-earnings ratio of -7.06, a price-to-earnings-growth ratio of 0.34 and a beta of 0.93.

Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $8.55 million for the quarter, compared to analysts’ expectations of $9.47 million. Immersion had a net margin of 42.23% and a return on equity of 62.41%. The firm’s quarterly revenue was down 27.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share. On average, equities research analysts expect that Immersion will post 1.7 EPS for the current fiscal year.

In other news, Director David Sugishita sold 14,245 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $9.50, for a total value of $135,327.50. Following the sale, the director now directly owns 82,136 shares in the company, valued at approximately $780,292. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kenneth H. Traub bought 10,000 shares of Immersion stock in a transaction dated Monday, November 12th. The stock was acquired at an average price of $8.99 per share, for a total transaction of $89,900.00. The disclosure for this purchase can be found here. Insiders own 18.59% of the company’s stock.

Several institutional investors have recently bought and sold shares of IMMR. Premia Global Advisors LLC purchased a new position in shares of Immersion during the 2nd quarter worth about $105,000. MetLife Investment Advisors LLC boosted its position in Immersion by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,774 shares of the software maker’s stock valued at $230,000 after buying an additional 7,745 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Immersion by 7.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 132,207 shares of the software maker’s stock valued at $1,397,000 after buying an additional 8,838 shares during the period. Bank of New York Mellon Corp boosted its position in Immersion by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 122,470 shares of the software maker’s stock valued at $1,891,000 after buying an additional 9,545 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Immersion by 30.8% in the 3rd quarter. Alliancebernstein L.P. now owns 44,350 shares of the software maker’s stock valued at $469,000 after buying an additional 10,450 shares during the period. Hedge funds and other institutional investors own 77.44% of the company’s stock.

About Immersion

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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