Immersion (NASDAQ:IMMR) Earns Buy Rating from BWS Financial

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reaffirmed by research analysts at BWS Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $13.50 price objective on the software maker’s stock. BWS Financial’s price objective suggests a potential upside of 77.63% from the company’s current price.

Separately, Craig Hallum dropped their price target on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday.

Immersion Price Performance

Shares of IMMR stock opened at $7.60 on Thursday. The firm has a market cap of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55. Immersion has a fifty-two week low of $7.06 and a fifty-two week high of $13.94. The business’s 50 day moving average price is $8.34 and its 200-day moving average price is $8.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The firm had revenue of $474.76 million for the quarter, compared to analyst estimates of $9.45 million. On average, equities research analysts anticipate that Immersion will post 1.57 earnings per share for the current year.

Insider Activity at Immersion

In related news, Director Toro 18 Holdings Llc acquired 59,146 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the completion of the purchase, the director now owns 11,065,848 shares of the company’s stock, valued at $93,949,049.52. This represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC purchased a new position in Immersion during the fourth quarter valued at $202,000. Sherbrooke Park Advisers LLC purchased a new position in Immersion during the fourth quarter valued at $170,000. ProShare Advisors LLC raised its stake in Immersion by 8.5% during the fourth quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock valued at $230,000 after buying an additional 2,064 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Immersion by 11.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker’s stock worth $4,448,000 after purchasing an additional 48,843 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Immersion in the fourth quarter worth $186,000. Hedge funds and other institutional investors 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.