Immersion Corporation (IMMR) Rating Increased to Hold at ValuEngine
Immersion Corporation (NASDAQ:IMMR) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Saturday.
A number of other equities research analysts also recently commented on IMMR. Zacks Investment Research upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Cowen and Company set a $11.00 price objective on Immersion Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, B. Riley started coverage on Immersion Corporation in a research report on Saturday, August 5th. They set a “buy” rating and a $9.75 target price on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.96.
Shares of Immersion Corporation (NASDAQ:IMMR) opened at 8.17 on Friday. The stock’s 50 day moving average is $7.30 and its 200-day moving average is $8.26. Immersion Corporation has a 52 week low of $6.22 and a 52 week high of $11.92. The firm’s market cap is $239.07 million.
Immersion Corporation (NASDAQ:IMMR) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $8.94 million. Immersion Corporation had a negative return on equity of 43.56% and a negative net margin of 113.47%. The firm’s revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. On average, equities analysts predict that Immersion Corporation will post ($1.22) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Immersion Corporation by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after purchasing an additional 1,929 shares during the period. State Street Corp grew its position in Immersion Corporation by 11.8% during the second quarter. State Street Corp now owns 542,672 shares of the software maker’s stock worth $4,927,000 after buying an additional 57,476 shares during the period. ETF Managers Group LLC acquired a new position in Immersion Corporation during the second quarter worth about $221,000. Intrinsic Edge Capital Management LLC acquired a new position in Immersion Corporation during the second quarter worth about $1,046,000. Finally, Goldman Sachs Group Inc. grew its position in Immersion Corporation by 4.7% during the second quarter. Goldman Sachs Group Inc. now owns 36,404 shares of the software maker’s stock worth $331,000 after buying an additional 1,621 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.
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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