Immersion (NASDAQ:IMMR) Raised to Buy at StockNews.com

Immersion (NASDAQ:IMMR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, BWS Financial increased their price target on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday.

Immersion Stock Down 2.7 %

Shares of NASDAQ:IMMR opened at $8.61 on Thursday. The firm has a fifty day simple moving average of $10.71 and a two-hundred day simple moving average of $9.00. The stock has a market capitalization of $274.27 million, a P/E ratio of 6.28 and a beta of 1.50. Immersion has a 52 week low of $5.94 and a 52 week high of $13.94.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.34 by $0.55. Immersion had a return on equity of 24.50% and a net margin of 62.74%. The company had revenue of $99.42 million during the quarter, compared to analyst estimates of $7.29 million. On average, analysts expect that Immersion will post 1.54 earnings per share for the current year.

Insider Activity at Immersion

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of the firm’s 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 completion of 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 can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immersion

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Immersion during the second quarter valued at approximately $26,000. Tower Research Capital LLC TRC lifted its holdings in shares of Immersion by 288.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after buying an additional 3,076 shares during the period. CWM LLC lifted its holdings in shares of Immersion by 160.3% in the 2nd quarter. CWM LLC now owns 6,487 shares of the software maker’s stock worth $61,000 after buying an additional 3,995 shares during the period. Lazard Asset Management LLC bought a new position in shares of Immersion during the 1st quarter worth $72,000. Finally, Caprock Group LLC purchased a new position in shares of Immersion during the second quarter valued at $107,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

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.