Immersion (NASDAQ:IMMR – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Tuesday.
IMMR has been the topic of a number of other reports. Weiss Ratings lowered Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Zacks Research upgraded Immersion to a “hold” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Immersion presently has a consensus rating of “Hold” and an average target price of $13.50.
View Our Latest Stock Analysis on IMMR
Immersion Trading Down 4.3%
Immersion (NASDAQ:IMMR – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The company had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. On average, research analysts anticipate that Immersion will post 0.26 EPS for the current fiscal year.
Institutional Trading of Immersion
A number of hedge funds have recently modified their holdings of IMMR. Millennium Management LLC boosted its position in shares of Immersion by 121.5% in the third quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after buying an additional 294,393 shares during the period. Kanen Wealth Management LLC raised its position in Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after buying an additional 239,318 shares during the period. Numerai GP LLC lifted its stake in Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after acquiring an additional 168,294 shares in the last quarter. Jump Financial LLC lifted its stake in Immersion by 439.8% in the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after acquiring an additional 103,176 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Immersion by 49.9% during the 3rd quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock worth $2,079,000 after acquiring an additional 94,243 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.
About Immersion
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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