Immersion’s (IMMR) Buy Rating Reiterated at BWS Financial

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reissued by equities researchers at BWS Financial in a research note issued to investors on Thursday, Benzinga reports. They currently have a $11.00 target price on the software maker’s stock. BWS Financial’s target price suggests a potential upside of 53.42% from the company’s previous close.

Separately, StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research report on Friday, March 8th.

Immersion Trading Up 1.0 %

Shares of IMMR stock opened at $7.17 on Thursday. Immersion has a 1 year low of $5.94 and a 1 year high of $8.62. The firm’s fifty day simple moving average is $7.28 and its 200 day simple moving average is $6.92. The firm has a market capitalization of $227.30 million, a P/E ratio of 6.96 and a beta of 1.49.

Immersion (NASDAQ:IMMR) last announced its earnings results 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 for the quarter, compared to analyst estimates of $9.25 million. Equities research analysts anticipate that Immersion will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immersion news, Director Elias Nader sold 13,000 shares of Immersion stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total transaction of $106,860.00. Following the sale, 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 can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Immersion

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Immersion by 2,275.3% in the 4th quarter. Millennium Management LLC now owns 1,188,795 shares of the software maker’s stock valued at $8,357,000 after purchasing an additional 1,138,746 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Immersion by 160.3% in the 2nd quarter. BlackRock Inc. now owns 1,560,207 shares of the software maker’s stock valued at $11,046,000 after purchasing an additional 960,795 shares in the last quarter. State Street Corp boosted its stake in shares of Immersion by 233.7% in the 2nd quarter. State Street Corp now owns 991,938 shares of the software maker’s stock valued at $7,023,000 after purchasing an additional 694,689 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Immersion by 91.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 825,094 shares of the software maker’s stock valued at $7,375,000 after purchasing an additional 393,171 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Immersion by 100.4% in the 2nd quarter. Geode Capital Management LLC now owns 658,984 shares of the software maker’s stock valued at $4,666,000 after purchasing an additional 330,158 shares in the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

About Immersion

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.