Immersion Corporation (NASDAQ:IMMR) has been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.17.

A number of brokerages have recently weighed in on IMMR. Zacks Investment Research upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, B. Riley restated a “buy” rating and set a $9.75 price target on shares of Immersion in a research note on Monday, October 30th.

Shares of Immersion (NASDAQ IMMR) traded up $0.05 during trading on Monday, reaching $7.11. 347,222 shares of the company’s stock were exchanged, compared to its average volume of 248,627. Immersion has a fifty-two week low of $5.76 and a fifty-two week high of $11.92.

Immersion (NASDAQ:IMMR) last announced its earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.16. The business had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm’s revenue was down 54.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. equities analysts predict that Immersion will post -1.12 EPS for the current fiscal year.

In other Immersion news, major shareholder Raging Capital Management, Llc purchased 154,997 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $7.27 per share, for a total transaction of $1,126,828.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 939,766 shares of company stock worth $6,841,123 in the last 90 days. Insiders own 7.22% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Immersion by 7.5% in the second quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock valued at $11,653,000 after buying an additional 89,010 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Immersion by 32.3% in the second quarter. TIAA CREF Investment Management LLC now owns 99,785 shares of the software maker’s stock valued at $906,000 after buying an additional 24,384 shares during the last quarter. B. Riley Financial Inc. boosted its position in Immersion by 76.7% in the third quarter. B. Riley Financial Inc. now owns 147,453 shares of the software maker’s stock valued at $1,205,000 after buying an additional 64,013 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in Immersion in the second quarter valued at approximately $1,046,000. Finally, Northern Trust Corp boosted its position in Immersion by 5.0% in the second quarter. Northern Trust Corp now owns 385,824 shares of the software maker’s stock valued at $3,503,000 after buying an additional 18,517 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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About Immersion

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.

Analyst Recommendations for Immersion (NASDAQ:IMMR)

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