Immersion Corp. major shareholder Buys $8,489 in Stock (IMMR)
Immersion Corp. (NASDAQ:IMMR) major shareholder Rima Senvest Management, L.L.C purchased 626 shares of the stock in a transaction dated Saturday, September 6th. The stock was purchased at an average price of $13.56 per share, for a total transaction of $8,488.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Immersion Corp. (NASDAQ:IMMR) opened at 10.51 on Monday. Immersion Corp. has a 52-week low of $9.69 and a 52-week high of $14.86. The stock’s 50-day moving average is $12.69 and its 200-day moving average is $11.39. The company has a market cap of $298.3 million and a P/E ratio of 7.71.
Immersion Corp. (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.03. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $13.23 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts predict that Immersion Corp. will post $0.33 earnings per share for the current fiscal year.
A number of research firms have recently commented on IMMR. Analysts at TheStreet downgraded shares of Immersion Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 23rd. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Immersion Corp. in a research note on Thursday, May 15th. They now have a $16.50 price target on the stock. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Immersion Corp. in a research note on Wednesday, May 7th. They now have a $16.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $16.25.
Immersion Corporation (NASDAQ:IMMR) is a provider of haptic technologies that allow people to use their sense of touch when operating a variety of digital devices.
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