Wall Street Zen Upgrades Immersion (NASDAQ:IMMR) to “Hold”

Immersion (NASDAQ:IMMRGet Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

IMMR has been the subject of several other reports. Zacks Research upgraded shares of Immersion to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings cut Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Immersion presently has an average rating of “Hold” and an average target price of $13.50.

View Our Latest Research Report on IMMR

Immersion Price Performance

NASDAQ:IMMR traded up $0.24 during trading hours on Friday, reaching $6.75. 369,607 shares of the company traded hands, compared to its average volume of 620,940. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16. The firm’s 50-day moving average is $6.52 and its 200-day moving average is $6.35. The stock has a market cap of $223.43 million, a P/E ratio of 337.50 and a beta of 1.02. Immersion has a 1-year low of $5.25 and a 1-year high of $8.00.

Immersion (NASDAQ:IMMRGet Free Report) last released its earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.The firm had revenue of $518.49 million during the quarter. Equities research analysts expect that Immersion will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immersion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of Immersion by 2.1% in the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock worth $480,000 after buying an additional 1,819 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after acquiring an additional 2,041 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Immersion by 5.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 44,800 shares of the software maker’s stock valued at $329,000 after purchasing an additional 2,500 shares during the period. Invesco Ltd. grew its position in Immersion by 16.2% in the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,886 shares during the last quarter. Finally, Strs Ohio bought a new position in Immersion in the first quarter worth $27,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Company Profile

(Get Free Report)

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.

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