Immersion Corporation (IMMR) Given Consensus Rating of “Buy” by Analysts
Immersion Corporation (NASDAQ:IMMR) has been assigned an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.75.
IMMR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Immersion Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. B. Riley reiterated a “buy” rating and set a $10.50 price target on shares of Immersion Corporation in a report on Monday, July 31st. Cowen and Company set a $11.00 price target on Immersion Corporation and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded Immersion Corporation from a “sell” rating to a “hold” rating in a report on Saturday, September 30th.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. American International Group Inc. grew its holdings in shares of Immersion Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock worth $154,000 after purchasing an additional 1,182 shares during the period. Voya Investment Management LLC grew its holdings in shares of Immersion Corporation by 14.1% during the 2nd quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock worth $184,000 after purchasing an additional 2,501 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of Immersion Corporation by 66.5% during the 1st quarter. Tudor Investment Corp ET AL now owns 25,149 shares of the software maker’s stock worth $218,000 after purchasing an additional 10,046 shares during the period. Sei Investments Co. purchased a new position in shares of Immersion Corporation during the 2nd quarter worth $221,000. Finally, ETF Managers Group LLC purchased a new position in shares of Immersion Corporation during the 2nd quarter worth $221,000. Institutional investors and hedge funds own 74.41% of the company’s stock.
Immersion Corporation (NASDAQ:IMMR) traded down 1.09% on Friday, reaching $8.20. 117,254 shares of the company’s stock traded hands. Immersion Corporation has a 52 week low of $6.22 and a 52 week high of $11.92. The firm has a 50-day moving average price of $7.92 and a 200-day moving average price of $8.22. The stock’s market capitalization is $239.95 million.
Immersion Corporation (NASDAQ:IMMR) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Immersion Corporation had a negative return on equity of 43.56% and a negative net margin of 113.47%. The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $8.94 million. During the same period last year, the business earned ($0.20) earnings per share. The firm’s revenue was down 11.4% compared to the same quarter last year. On average, analysts predict that Immersion Corporation will post ($1.22) earnings per share for the current year.
About Immersion Corporation
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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