Dougherty & Co upgraded shares of Immersion (NASDAQ:IMMR) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. Dougherty & Co currently has $13.00 price target on the software maker’s stock.
IMMR has been the subject of a number of other research reports. BidaskClub downgraded shares of Immersion from a sell rating to a strong sell rating in a research report on Saturday, February 23rd. B. Riley reaffirmed a neutral rating and issued a $9.50 target price (down previously from $18.00) on shares of Immersion in a research report on Friday, February 22nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $13.13.
IMMR traded down $0.15 during mid-day trading on Tuesday, hitting $8.07. The stock had a trading volume of 134,643 shares, compared to its average volume of 475,801. The firm has a market cap of $267.58 million, a PE ratio of 4.64 and a beta of 1.04. Immersion has a 1-year low of $7.89 and a 1-year high of $17.70.
Immersion (NASDAQ:IMMR) last posted its earnings results on Monday, May 13th. The software maker reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). The firm had revenue of $5.10 million during the quarter, compared to analyst estimates of $5.10 million. Immersion had a negative return on equity of 27.08% and a negative net margin of 86.54%. The company’s revenue for the quarter was down 94.0% on a year-over-year basis. During the same quarter last year, the business posted $2.34 earnings per share. Research analysts forecast that Immersion will post -0.99 earnings per share for the current fiscal year.
In related news, VP Anne Marie Peters sold 6,370 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.32, for a total value of $52,998.40. Following the completion of the transaction, the vice president now owns 115,425 shares of the company’s stock, valued at $960,336. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Nancy Erba sold 3,554 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.32, for a total transaction of $29,569.28. Following the completion of the transaction, the chief financial officer now directly owns 70,647 shares of the company’s stock, valued at approximately $587,783.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,442 shares of company stock valued at $584,463. 18.59% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Immersion by 11.4% in the 3rd quarter. Vanguard Group Inc now owns 1,767,886 shares of the software maker’s stock valued at $18,687,000 after acquiring an additional 181,293 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Immersion by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,767,886 shares of the software maker’s stock worth $18,687,000 after buying an additional 181,293 shares during the period. Dimensional Fund Advisors LP grew its stake in Immersion by 18.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 978,898 shares of the software maker’s stock valued at $8,252,000 after buying an additional 154,147 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Immersion by 11,307.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 770,704 shares of the software maker’s stock valued at $8,146,000 after buying an additional 763,948 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Immersion by 0.7% in the 4th quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock valued at $3,241,000 after buying an additional 2,649 shares during the last quarter. 77.67% of the stock is owned by institutional investors.
Immersion Company Profile
Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.
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