BWS Financial Reiterates Buy Rating for Immersion (NASDAQ:IMMR)

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reiterated by research analysts at BWS Financial in a research note issued to investors on Monday, Benzinga reports. They presently have a $11.00 price target on the software maker’s stock. BWS Financial’s price objective suggests a potential upside of 16.77% from the company’s previous close.

Separately, StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a report on Friday, May 17th.

Immersion Price Performance

Shares of NASDAQ IMMR traded up $0.01 during mid-day trading on Monday, reaching $9.42. 43,766 shares of the company’s stock traded hands, compared to its average volume of 535,573. The stock has a market cap of $300.03 million, a P/E ratio of 6.85 and a beta of 1.50. The business has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $7.83. Immersion has a 1-year low of $5.94 and a 1-year high of $11.04.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. Immersion had a net margin of 62.74% and a return on equity of 24.50%. The business had revenue of $43.85 million for the quarter, compared to analysts’ expectations of $24.94 million. Equities research analysts anticipate that Immersion will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of Immersion stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $10.68, for a total value of $52,833.96. Following the sale, the chief financial officer now owns 45,053 shares of the company’s stock, valued at $481,166.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Trading of Immersion

Several hedge funds have recently added to or reduced their stakes in IMMR. EMC Capital Management bought a new stake in shares of Immersion in the first quarter valued at approximately $120,000. Price T Rowe Associates Inc. MD raised its position in shares of Immersion by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock valued at $218,000 after purchasing an additional 1,140 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Immersion in the first quarter valued at approximately $72,000. Quadrature Capital Ltd bought a new stake in shares of Immersion in the first quarter valued at approximately $250,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Immersion in the first quarter valued at approximately $158,000. Institutional investors own 60.57% of the company’s stock.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.