BWS Financial Reiterates “Buy” Rating for Immersion (NASDAQ:IMMR)

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reissued by stock analysts at BWS Financial in a report released on Wednesday,Benzinga reports. They presently have a $13.50 price target on the software maker’s stock. BWS Financial’s price target suggests a potential upside of 60.33% from the stock’s previous close.

Immersion Trading Up 1.4 %

Shares of IMMR opened at $8.42 on Wednesday. The business’s 50-day moving average price is $8.77 and its 200-day moving average price is $9.16. Immersion has a twelve month low of $6.54 and a twelve month high of $13.94. The stock has a market cap of $271.80 million, a PE ratio of 3.01 and a beta of 1.50. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Monday, December 16th. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.68. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, equities analysts forecast that Immersion will post 1.57 EPS for the current fiscal year.

Institutional Trading of Immersion

Several hedge funds and other institutional investors have recently bought and sold shares of IMMR. SBI Securities Co. Ltd. purchased a new stake in shares of Immersion during the fourth quarter valued at approximately $51,000. Copeland Capital Management LLC purchased a new stake in Immersion in the third quarter worth $59,000. Quantbot Technologies LP purchased a new stake in Immersion in the third quarter worth $78,000. Proficio Capital Partners LLC purchased a new stake in Immersion in the fourth quarter worth $98,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Immersion by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock worth $116,000 after acquiring an additional 1,139 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.