Immersion (NASDAQ:IMMR) Raised to “Hold” at Wall Street Zen

Immersion (NASDAQ:IMMR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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

Immersion Trading Up 0.3%

IMMR opened at $6.70 on Friday. The firm has a 50 day simple moving average of $6.32 and a 200 day simple moving average of $6.36. Immersion has a fifty-two week low of $5.25 and a fifty-two week high of $8.15. The company has a market cap of $221.77 million, a price-to-earnings ratio of 335.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share (EPS) for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. The business had revenue of $518.49 million during the quarter. On average, sell-side analysts anticipate that Immersion will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Immersion by 2.1% in the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Immersion by 85.5% in the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after purchasing an additional 2,041 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Immersion by 5.9% during the third quarter. Bridgeway Capital Management LLC now owns 44,800 shares of the software maker’s stock worth $329,000 after purchasing an additional 2,500 shares in the last quarter. Invesco Ltd. boosted its position in shares of Immersion by 16.2% during the second 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, Caitlin John LLC acquired a new position in shares of Immersion in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Immersion Company Profile

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.