Immersion (IMMR) Downgraded to “Sell” at Zacks Investment Research

Immersion (NASDAQ:IMMR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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. “

Several other equities research analysts have also commented on the company. BidaskClub upgraded Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. ValuEngine lowered Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Finally, Craig Hallum upgraded Immersion from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.06.

NASDAQ IMMR opened at $9.48 on Wednesday. The firm has a market cap of $292.63 million, a PE ratio of -7.97, a PEG ratio of 0.37 and a beta of 0.92. Immersion has a 1-year low of $5.90 and a 1-year high of $17.70.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $8.55 million for the quarter, compared to analysts’ expectations of $9.47 million. Immersion had a return on equity of 62.41% and a net margin of 42.23%. The company’s revenue was down 27.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. On average, sell-side analysts predict that Immersion will post 1.7 earnings per share for the current fiscal year.

In related news, CEO Thomas A. Lacey acquired 6,000 shares of Immersion stock in a transaction dated Thursday, November 8th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $351,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth H. Traub acquired 10,000 shares of Immersion stock in a transaction dated Monday, November 12th. The stock was bought 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. Corporate insiders own 18.59% of the company’s stock.

Large investors have recently bought and sold shares of the company. Premia Global Advisors LLC purchased a new stake in shares of Immersion in the 2nd quarter worth $105,000. Tower Research Capital LLC TRC purchased a new stake in Immersion in the 2nd quarter worth $162,000. First Quadrant L P CA purchased a new stake in Immersion in the 2nd quarter worth $181,000. Engineers Gate Manager LP purchased a new stake in Immersion in the 2nd quarter worth $200,000. Finally, Trexquant Investment LP purchased a new stake in Immersion in the 3rd quarter worth $146,000. Hedge funds and other institutional investors own 78.14% of the company’s stock.

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 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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