StockNews.com Downgrades Immersion (NASDAQ:IMMR) to Hold

Immersion (NASDAQ:IMMRGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other research firms have also weighed in on IMMR. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a report on Monday, February 28th. Craig Hallum decreased their price target on shares of Immersion from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday.

Shares of IMMR traded up $0.12 during trading hours on Wednesday, reaching $5.83. 250,179 shares of the company traded hands, compared to its average volume of 413,813. Immersion has a 1-year low of $4.28 and a 1-year high of $9.78. The stock has a market cap of $195.97 million, a P/E ratio of 12.15 and a beta of 1.73. The stock’s fifty day moving average is $5.12 and its 200 day moving average is $5.28.

Immersion (NASDAQ:IMMRGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The software maker reported $0.17 earnings per share for the quarter. The company had revenue of $7.31 million during the quarter. Immersion had a net margin of 44.06% and a return on equity of 16.47%.

In other news, insider William C. Martin purchased 10,000 shares of Immersion stock in a transaction dated Tuesday, May 31st. The shares were bought at an average cost of $5.61 per share, with a total value of $56,100.00. Following the completion of the transaction, the insider now directly owns 432,831 shares in the company, valued at approximately $2,428,181.91. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William C. Martin purchased 50,000 shares of Immersion stock in a transaction dated Friday, May 27th. The shares were purchased at an average cost of $5.72 per share, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now owns 422,831 shares of the company’s stock, valued at $2,418,593.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 6,297 shares of company stock worth $32,378. Insiders own 1.80% of the company’s stock.

Several large investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in Immersion in the 3rd quarter valued at $355,000. Barclays PLC increased its stake in Immersion by 234.8% in the 3rd quarter. Barclays PLC now owns 67,138 shares of the software maker’s stock valued at $459,000 after buying an additional 47,083 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Immersion in the 4th quarter valued at $123,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Immersion in the 3rd quarter valued at about $82,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of Immersion in the 4th quarter valued at about $401,000. Institutional investors and hedge funds own 50.49% of the company’s stock.

About Immersion (Get Rating)

Immersion Corporation, together with its subsidiaries, invents, scales, and licenses 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.

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