Viex Capital Advisors, LLC Maintains Stake in Immersion Corporation (IMMR)

Viex Capital Advisors, LLC

recently revealed that they own a 6.3% stake in Immersion Corporation (NASDAQ:IMMR) in a Schedule 13D/A disclosure that was filed with the SEC on Thursday, December 7th. The investor owns 1,845,434 shares of the stock valued at about $13,287,125. The reporting parties listed on the disclosure included VIEX Opportunities Fund, LP Series One*, VIEX Special Opportunities Fund II, LP, Viex Gp, LLC, VIEX Special Opportunities GP II, LLC, VIEX Capital Advisors, LLC, Eric Singer and Steve L Domenik. The disclosure is available through the SEC website at this hyperlink.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Immersion by 6.2% in the first quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock valued at $10,342,000 after acquiring an additional 69,383 shares in the last quarter. Geode Capital Management LLC grew its position in Immersion by 3.0% in the first quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock valued at $2,159,000 after acquiring an additional 7,191 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Immersion by 12.4% in the first quarter. Dimensional Fund Advisors LP now owns 347,922 shares of the software maker’s stock valued at $3,013,000 after acquiring an additional 38,284 shares in the last quarter. Sei Investments Co. acquired a new stake in Immersion in the second quarter valued at approximately $221,000. Finally, Alliancebernstein L.P. acquired a new stake in Immersion in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Several brokerages have issued reports on IMMR. Zacks Investment Research downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. B. Riley reaffirmed a “buy” rating and issued a $9.75 price objective on shares of Immersion in a research report on Monday, October 30th. Finally, ValuEngine raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.17.

Immersion Corporation (NASDAQ IMMR) traded down $0.08 during mid-day trading on Thursday, hitting $7.20. 330,800 shares of the stock were exchanged, compared to its average volume of 247,796. Immersion Corporation has a twelve month low of $5.76 and a twelve month high of $11.92.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.16. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The business had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. During the same quarter last year, the company earned $0.34 earnings per share. The business’s quarterly revenue was down 54.8% compared to the same quarter last year. research analysts expect that Immersion Corporation will post -1.12 EPS for the current fiscal year.

In related news, major shareholder Raging Capital Management, Llc purchased 154,997 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average price of $7.27 per share, with a total value of $1,126,828.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.22% of the stock is currently owned by company insiders.

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Immersion Company Profile

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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