Immersion (NASDAQ:IMMR) Lowered to “Hold” at StockNews.com

Immersion (NASDAQ:IMMR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, BWS Financial reiterated a “buy” rating and issued a $11.00 target price on shares of Immersion in a research note on Thursday, April 18th.

Immersion Stock Up 7.6 %

NASDAQ IMMR traded up $0.57 during trading hours on Thursday, reaching $8.08. 1,116,334 shares of the company were exchanged, compared to its average volume of 496,595. Immersion has a 1 year low of $5.94 and a 1 year high of $8.62. The business’s 50 day simple moving average is $7.36 and its 200-day simple moving average is $6.98. The stock has a market capitalization of $256.14 million, a P/E ratio of 7.84 and a beta of 1.46.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, March 7th. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.30. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The business had revenue of $10.38 million during the quarter, compared to the consensus estimate of $9.25 million. As a group, sell-side analysts anticipate that Immersion will post 1.14 earnings per share for the current year.

Insider Transactions at Immersion

In other news, Director Elias Nader sold 13,000 shares of Immersion stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total value of $106,860.00. Following the completion of the transaction, the director now owns 29,266 shares in the company, valued at $240,566.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

Several hedge funds have recently bought and sold shares of IMMR. LSV Asset Management grew its stake in Immersion by 16.9% during the third quarter. LSV Asset Management now owns 1,637,198 shares of the software maker’s stock valued at $10,822,000 after acquiring an additional 237,119 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Immersion during the first quarter valued at approximately $1,285,000. Los Angeles Capital Management LLC purchased a new position in Immersion during the third quarter valued at approximately $825,000. Janney Montgomery Scott LLC purchased a new position in Immersion during the fourth quarter valued at approximately $442,000. Finally, Gallacher Capital Management LLC purchased a new position in Immersion during the fourth quarter valued at approximately $420,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Company Profile

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.