Immersion Corp. (IMMR) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Immersion Corp. (NASDAQ:IMMR) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $13.31.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Immersion Corp. from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Wednesday, July 6th. B. Riley restated a “buy” rating and set a $12.00 price target on shares of Immersion Corp. in a research note on Tuesday, August 9th. Finally, Craig Hallum upped their price target on Immersion Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th.
Immersion Corp. (NASDAQ:IMMR) traded down 0.065% during midday trading on Tuesday, reaching $7.745. 53,051 shares of the company were exchanged. Immersion Corp. has a 52-week low of $5.90 and a 52-week high of $14.45. The company’s market capitalization is $223.88 million. The company has a 50 day moving average of $7.81 and a 200-day moving average of $7.27.
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Immersion Corp. (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. The firm earned $7.90 million during the quarter, compared to analyst estimates of $11.57 million. Immersion Corp. had a negative net margin of 13.23% and a negative return on equity of 6.95%. Immersion Corp.’s revenue was down 51.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities research analysts anticipate that Immersion Corp. will post ($0.09) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. University of Notre Dame DU Lac boosted its position in Immersion Corp. by 99.6% in the first quarter. University of Notre Dame DU Lac now owns 165,238 shares of the company’s stock valued at $1,365,000 after buying an additional 82,435 shares during the last quarter. Harvest Capital Strategies LLC boosted its position in Immersion Corp. by 31.8% in the first quarter. Harvest Capital Strategies LLC now owns 301,444 shares of the company’s stock valued at $2,490,000 after buying an additional 72,665 shares during the last quarter. California State Teachers Retirement System boosted its position in Immersion Corp. by 2.2% in the second quarter. California State Teachers Retirement System now owns 60,690 shares of the company’s stock valued at $445,000 after buying an additional 1,305 shares during the last quarter. Palisade Capital Management LLC NJ boosted its position in Immersion Corp. by 25.0% in the second quarter. Palisade Capital Management LLC NJ now owns 307,500 shares of the company’s stock valued at $2,257,000 after buying an additional 61,500 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in Immersion Corp. during the second quarter valued at about $1,081,000. Hedge funds and other institutional investors own 74.80% of the company’s stock.
About Immersion Corp.
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.
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