Craig Hallum Has Lowered Expectations for Immersion (NASDAQ:IMMR) Stock Price

Immersion (NASDAQ:IMMR) had its price objective cut by equities research analysts at Craig Hallum from $14.00 to $11.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Craig Hallum’s price target indicates a potential upside of 44.74% from the company’s previous close.

Separately, BWS Financial restated a “buy” rating and issued a $13.50 target price on shares of Immersion in a research note on Wednesday, February 5th.

Immersion Stock Up 2.2 %

Shares of Immersion stock opened at $7.60 on Thursday. The company has a fifty day moving average price of $8.34 and a 200 day moving average price of $8.62. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. Immersion has a twelve month low of $7.06 and a twelve month high of $13.94. The stock has a market cap of $245.30 million, a price-to-earnings ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results 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. The firm had revenue of $474.76 million during the quarter, compared to analysts’ expectations of $9.45 million. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Equities research analysts forecast that Immersion will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Immersion

In related news, Director Toro 18 Holdings Llc acquired 59,146 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $502,149.54. Following the completion of the acquisition, the director now directly owns 11,065,848 shares of the company’s stock, valued at approximately $93,949,049.52. The trade was a 0.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMMR. Farther Finance Advisors LLC boosted its holdings in shares of Immersion by 29,900.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock valued at $26,000 after acquiring an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Immersion in the fourth quarter valued at approximately $51,000. Quarry LP bought a new position in shares of Immersion in the fourth quarter valued at approximately $54,000. AlphaQuest LLC bought a new position in shares of Immersion in the fourth quarter valued at approximately $61,000. Finally, Legal & General Group Plc boosted its holdings in shares of Immersion by 44.2% in the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock valued at $69,000 after acquiring an additional 2,425 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors.

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.