Immersion (NASDAQ:IMMR) Rating Increased to Hold at Wall Street Zen

Immersion (NASDAQ:IMMR) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other research analysts also recently issued reports about the company. Zacks Research raised Immersion to a “hold” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.50.

Immersion Stock Up 18.7%

IMMR stock opened at $7.74 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16. The firm’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $6.35. Immersion has a 12 month low of $5.25 and a 12 month high of $7.75. The company has a market capitalization of $256.19 million, a P/E ratio of 55.29 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Immersion had a net margin of 0.26% and a return on equity of 0.81%. The company had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. As a group, equities research analysts forecast that Immersion will post 0.26 earnings per share for the current year.

Institutional Trading of Immersion

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after purchasing an additional 44,112 shares during the last quarter. XTX Topco Ltd acquired a new stake in Immersion in the 2nd quarter worth about $80,000. Quantbot Technologies LP increased its stake in Immersion by 212.3% during the 2nd quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after buying an additional 30,703 shares in the last quarter. Invesco Ltd. lifted its stake in Immersion by 16.2% in the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Immersion by 439.8% during the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after purchasing an additional 103,176 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

About Immersion

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.