Dougherty & Co reiterated their buy rating on shares of Immersion (NASDAQ:IMMR) in a report published on Friday. They currently have a $14.00 target price on the software maker’s stock, up from their prior target price of $10.00.
Other research analysts have also issued reports about the company. Craig Hallum upped their target price on Immersion from $15.00 to $17.00 and gave the stock a buy rating in a research report on Friday. B. Riley reaffirmed a buy rating and issued a $12.25 target price on shares of Immersion in a research report on Tuesday, January 30th. Zacks Investment Research lowered Immersion from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Finally, ValuEngine raised Immersion from a strong sell rating to a sell rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $12.25.
Shares of Immersion (NASDAQ:IMMR) traded up $0.87 during mid-day trading on Friday, reaching $11.35. The company’s stock had a trading volume of 5,632,199 shares, compared to its average volume of 1,944,445. Immersion has a 12 month low of $5.76 and a 12 month high of $12.22. The firm has a market cap of $306.55, a price-to-earnings ratio of -7.32, a P/E/G ratio of 2.00 and a beta of 1.82.
Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, February 22nd. The software maker reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. Immersion had a negative return on equity of 122.89% and a negative net margin of 129.35%. The company had revenue of $6.90 million for the quarter, compared to analyst estimates of $6.32 million. During the same period in the prior year, the firm posted ($0.27) EPS. The business’s revenue was down 25.8% compared to the same quarter last year. sell-side analysts forecast that Immersion will post 0.35 earnings per share for the current year.
In related news, major shareholder Raging Capital Management, Llc acquired 154,997 shares of the stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $7.27 per share, with a total value of $1,126,828.19. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Anne Marie Peters sold 10,443 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $12.00, for a total value of $125,316.00. Following the transaction, the vice president now directly owns 62,305 shares in the company, valued at approximately $747,660. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,432,482 shares of company stock worth $10,166,370. 7.22% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Lyon Street Capital LLC acquired a new position in shares of Immersion during the 4th quarter valued at about $773,000. Nokomis Capital L.L.C. increased its holdings in shares of Immersion by 69.8% during the 4th quarter. Nokomis Capital L.L.C. now owns 1,679,154 shares of the software maker’s stock valued at $11,855,000 after acquiring an additional 690,110 shares during the last quarter. Fondren Management LP increased its holdings in shares of Immersion by 50.0% during the 4th quarter. Fondren Management LP now owns 135,000 shares of the software maker’s stock valued at $953,000 after acquiring an additional 45,000 shares during the last quarter. Clearline Capital LP increased its holdings in shares of Immersion by 33.1% during the 4th quarter. Clearline Capital LP now owns 82,674 shares of the software maker’s stock valued at $584,000 after acquiring an additional 20,564 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Immersion by 58.9% during the 4th quarter. Deutsche Bank AG now owns 64,017 shares of the software maker’s stock valued at $451,000 after purchasing an additional 23,738 shares during the period. 78.44% of the stock is currently owned by institutional investors and hedge funds.
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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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