Immersion (NASDAQ:IMMR) Raised to Hold at Wall Street Zen

Immersion (NASDAQ:IMMR) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

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

Immersion Stock Up 3.7%

NASDAQ:IMMR traded up $0.24 on Friday, hitting $6.75. 369,607 shares of the company’s stock were exchanged, compared to its average volume of 620,940. The company has a market cap of $223.43 million, a P/E ratio of 337.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16. Immersion has a 52 week low of $5.25 and a 52 week high of $8.00. The firm has a 50-day moving average price of $6.52 and a 200-day moving average price of $6.35.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share for the quarter. The company had revenue of $518.49 million during the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. As a group, analysts expect that Immersion will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IMMR. Strs Ohio purchased a new position in shares of Immersion during the first quarter valued at approximately $27,000. Russell Investments Group Ltd. grew 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 worth $33,000 after buying an additional 2,041 shares during the last quarter. Optiver Holding B.V. increased its holdings in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after acquiring an additional 7,414 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Immersion by 677.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after buying an additional 6,743 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Immersion in the 2nd quarter worth approximately $80,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Immersion Company Profile

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.