Published On: Tue, Sep 13th, 2016

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Shares of Immersion Corp. (NASDAQ:IMMR) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.31.
IMMR has been the topic of several recent research reports. Craig Hallum raised their price target on Immersion Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Zacks Investment Research downgraded Immersion Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 9th. Finally, B. Riley reissued a “buy” rating and issued a $12.00 price target on shares of Immersion Corp. in a report on Tuesday, August 9th.
In other Immersion Corp. news, VP Mahesh Sundaram sold 10,329 shares of Immersion Corp. stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $7.00, for a total transaction of $72,303.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.97% of the company’s stock.

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A number of hedge funds have recently made changes to their positions in IMMR. Vanguard Group Inc. increased its stake in Immersion Corp. by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,073,136 shares of the company’s stock worth $7,877,000 after buying an additional 6,851 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Immersion Corp. by 44.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,060,152 shares of the company’s stock worth $8,757,000 after buying an additional 328,704 shares in the last quarter. BlackRock Fund Advisors increased its stake in Immersion Corp. by 3.1% in the second quarter. BlackRock Fund Advisors now owns 750,375 shares of the company’s stock worth $5,508,000 after buying an additional 22,870 shares in the last quarter. Royce & Associates LP increased its stake in Immersion Corp. by 4.1% in the second quarter. Royce & Associates LP now owns 640,595 shares of the company’s stock worth $4,702,000 after buying an additional 25,000 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Immersion Corp. by 0.7% in the second quarter. Teachers Advisors Inc. now owns 553,726 shares of the company’s stock worth $4,064,000 after buying an additional 3,924 shares in the last quarter. 75.34% of the stock is currently owned by hedge funds and other institutional investors.
Immersion Corp. (NASDAQ:IMMR) traded down 4.42% during mid-day trading on Tuesday, reaching $7.57. The company’s stock had a trading volume of 95,944 shares. The company’s market capitalization is $218.83 million. Immersion Corp. has a 1-year low of $5.90 and a 1-year high of $14.45. The firm has a 50 day moving average price of $7.23 and a 200-day moving average price of $7.37.
Immersion Corp. (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.04. The company earned $7.90 million during the quarter, compared to the consensus estimate of $11.57 million. Immersion Corp. had a negative return on equity of 6.95% and a negative net margin of 13.23%. The company’s revenue for the quarter was down 51.2% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, equities analysts predict that Immersion Corp. will post ($0.09) EPS for the current fiscal year.
Immersion Corp. 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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