Immersion Co. (IMMR) Receives Average Recommendation of “Hold” from Analysts
Immersion Co. (NASDAQ:IMMR) has been given an average rating of “Hold” by the six research firms that are covering the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.88.
A number of research firms recently weighed in on IMMR. B. Riley reaffirmed a “buy” rating and issued a $10.50 price target on shares of Immersion in a report on Tuesday, May 2nd. Benchmark Co. assumed coverage on Immersion in a report on Tuesday, April 25th. They set a “buy” rating and a $12.00 target price for the company. Craig Hallum cut Immersion from a “buy” rating to a “hold” rating and reduced their target price for the company from $11.00 to $8.00 in a report on Friday, March 3rd. Dougherty & Co reissued a “buy” rating and set a $13.00 target price (up previously from $11.00) on shares of Immersion in a report on Friday, March 3rd. Finally, TheStreet cut Immersion from a “c” rating to a “d” rating in a report on Thursday, March 2nd.
Shares of Immersion (NASDAQ:IMMR) traded up 1.75% during mid-day trading on Tuesday, reaching $8.13. The company had a trading volume of 224,794 shares. Immersion has a 52 week low of $5.95 and a 52 week high of $11.92. The company’s market capitalization is $237.12 million. The stock has a 50 day moving average of $8.54 and a 200-day moving average of $9.71.
Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.30) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.30). The company had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $11.09 million. Immersion had a positive return on equity of 2.06% and a negative net margin of 0.15%. Immersion’s quarterly revenue was down 32.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, analysts expect that Immersion will post ($1.02) earnings per share for the current fiscal year.
In other news, Director Jack L. Saltich bought 5,000 shares of Immersion stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $8.26 per share, with a total value of $41,300.00. Following the completion of the acquisition, the director now directly owns 113,239 shares of the company’s stock, valued at $935,354.14. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Habiger bought 4,890 shares of Immersion stock in a transaction on Thursday, March 9th. The shares were purchased at an average cost of $8.17 per share, with a total value of $39,951.30. Following the acquisition, the director now directly owns 26,835 shares of the company’s stock, valued at $219,241.95. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 14,890 shares of company stock valued at $122,601 and have sold 3,068 shares valued at $31,452. 5.97% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in IMMR. Blair William & Co. IL purchased a new position in shares of Immersion during the first quarter worth approximately $109,000. Bayesian Capital Management LP bought a new stake in Immersion during the fourth quarter valued at approximately $124,000. American International Group Inc. boosted its stake in Immersion by 7.1% in the first quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock valued at $154,000 after buying an additional 1,182 shares in the last quarter. Tudor Investment Corp Et Al bought a new stake in Immersion during the fourth quarter valued at approximately $161,000. Finally, Lucus Advisors LLC bought a new stake in Immersion during the first quarter valued at approximately $191,000. 69.71% of the stock is owned by institutional investors and hedge funds.
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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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