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

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

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

Immersion Price Performance

Immersion stock traded up $0.57 during trading 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 52-week low of $5.94 and a 52-week high of $8.62. The company has a market capitalization of $256.14 million, a P/E ratio of 7.84 and a beta of 1.46. The stock’s 50 day simple moving average is $7.36 and its two-hundred day simple moving average is $6.98.

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

Insider Activity

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

Institutional Investors Weigh In On Immersion

Institutional investors have recently modified their holdings of the company. LSV Asset Management increased its holdings in Immersion by 16.9% during the 3rd quarter. LSV Asset Management now owns 1,637,198 shares of the software maker’s stock worth $10,822,000 after purchasing an additional 237,119 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in Immersion by 130.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 103,077 shares of the software maker’s stock worth $681,000 after purchasing an additional 58,273 shares during the period. SG Americas Securities LLC increased its holdings in Immersion by 58.3% during the 4th quarter. SG Americas Securities LLC now owns 22,239 shares of the software maker’s stock worth $157,000 after purchasing an additional 8,194 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Immersion during the 3rd quarter worth about $825,000. Finally, Boston Partners increased its holdings in Immersion by 16.4% during the 3rd quarter. Boston Partners now owns 71,338 shares of the software maker’s stock worth $472,000 after purchasing an additional 10,059 shares during the period. 60.57% of the stock is owned by institutional investors and hedge funds.

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.