Immersion (IMMR) Raised to “Hold” at Zacks Investment Research

Immersion (NASDAQ:IMMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “

Other research analysts also recently issued reports about the stock. Craig Hallum dropped their target price on shares of Immersion from $17.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, August 3rd. BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, ValuEngine downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.06.

Shares of NASDAQ IMMR traded up $0.68 during mid-day trading on Thursday, reaching $9.70. The company had a trading volume of 350,600 shares, compared to its average volume of 683,825. The company has a market capitalization of $277.23 million, a price-to-earnings ratio of -8.15, a price-to-earnings-growth ratio of 0.35 and a beta of 0.92. Immersion has a 52-week low of $5.85 and a 52-week high of $17.70.

Immersion (NASDAQ:IMMR) last posted its earnings results on Thursday, November 1st. The software maker reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The firm had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.47 million. Immersion had a net margin of 42.23% and a return on equity of 62.41%. The company’s revenue was down 27.9% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. As a group, equities analysts expect that Immersion will post 1.7 earnings per share for the current year.

In other Immersion news, CEO Thomas A. Lacey purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was purchased at an average price of $9.50 per share, for a total transaction of $57,000.00. Following the purchase, the chief executive officer now directly owns 37,000 shares in the company, valued at $351,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth H. Traub purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average price of $8.99 per share, with a total value of $89,900.00. The disclosure for this purchase can be found here. Company insiders own 18.59% of the company’s stock.

A number of large investors have recently modified their holdings of IMMR. Fox Run Management L.L.C. acquired a new stake in Immersion during the 2nd quarter worth $315,000. Acadian Asset Management LLC acquired a new stake in Immersion during the 2nd quarter worth $3,091,000. First Quadrant L P CA acquired a new stake in Immersion during the 2nd quarter worth $181,000. Algert Global LLC acquired a new stake in Immersion during the 2nd quarter worth $331,000. Finally, Engineers Gate Manager LP acquired a new stake in Immersion during the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 63.77% of the company’s stock.

About Immersion

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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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