Immersion (IMMR) Upgraded at Craig Hallum

Craig Hallum upgraded shares of Immersion (NASDAQ:IMMR) from a hold rating to a buy rating in a research note published on Wednesday morning, Marketbeat Ratings reports. Craig Hallum currently has $15.00 price objective on the software maker’s stock, up from their prior price objective of $14.00.

IMMR has been the subject of a number of other reports. BidaskClub lowered shares of Immersion from a hold rating to a sell rating in a report on Friday, August 3rd. Zacks Investment Research lowered shares of Immersion from a hold rating to a sell rating in a report on Thursday, August 9th. Dougherty & Co lowered shares of Immersion from a buy rating to a neutral rating in a report on Tuesday, June 26th. Finally, ValuEngine raised shares of Immersion from a hold rating to a buy rating in a report on Monday, June 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Immersion currently has a consensus rating of Hold and a consensus price target of $14.06.

Shares of IMMR opened at $10.66 on Wednesday. Immersion has a 1 year low of $5.76 and a 1 year high of $17.70. The company has a market cap of $336.63 million, a price-to-earnings ratio of -8.96, a P/E/G ratio of 0.42 and a beta of 0.88.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). Immersion had a net margin of 40.38% and a return on equity of 86.57%. The company had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.56 million. During the same period last year, the business earned ($0.51) earnings per share. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. equities research analysts anticipate that Immersion will post 1.75 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of IMMR. Premia Global Advisors LLC purchased a new position in shares of Immersion in the second quarter valued at $105,000. Stifel Financial Corp purchased a new position in shares of Immersion in the first quarter valued at $128,000. Tower Research Capital LLC TRC purchased a new position in shares of Immersion in the second quarter valued at $162,000. MetLife Investment Advisors LLC purchased a new position in shares of Immersion in the first quarter valued at $168,000. Finally, First Quadrant L P CA purchased a new position in shares of Immersion in the second quarter valued at $181,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

About Immersion

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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