Immersion (IMMR) Cut to Strong Sell at ValuEngine

Immersion (NASDAQ:IMMR) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, November 17th.

Several other brokerages also recently issued reports on IMMR. B. Riley restated a “buy” rating and set a $10.50 price objective on shares of Immersion in a research report on Monday, July 31st. Zacks Investment Research upgraded Immersion from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Cowen set a $11.00 price target on Immersion and gave the company a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.17.

Immersion (NASDAQ IMMR) traded down $0.08 during mid-day trading on Friday, hitting $7.20. 330,875 shares of the stock were exchanged, compared to its average volume of 247,796. Immersion has a 52 week low of $5.76 and a 52 week high of $11.92.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. During the same period last year, the firm earned $0.34 EPS. The company’s revenue for the quarter was down 54.8% on a year-over-year basis. sell-side analysts anticipate that Immersion will post -1.12 earnings per share for the current year.

In other Immersion news, major shareholder Raging Capital Management, Llc purchased 154,997 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average cost of $7.27 per share, with a total value of $1,126,828.19. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 7.22% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC lifted its holdings in Immersion by 60.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 1,393,439 shares of the software maker’s stock worth $11,384,000 after buying an additional 527,185 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Immersion by 7.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock worth $11,653,000 after buying an additional 89,010 shares in the last quarter. Thomson Horstmann & Bryant Inc. lifted its holdings in Immersion by 8.7% in the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 879,376 shares of the software maker’s stock worth $7,984,000 after buying an additional 70,640 shares in the last quarter. University of Notre Dame DU Lac acquired a new position in Immersion in the 3rd quarter worth $5,810,000. Finally, State Street Corp lifted its holdings in Immersion by 11.8% in the 2nd quarter. State Street Corp now owns 542,672 shares of the software maker’s stock worth $4,927,000 after buying an additional 57,476 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Immersion (NASDAQ:IMMR)

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