Immersion (NASDAQ:IMMR) Stock Rating Reaffirmed by BWS Financial

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reaffirmed by BWS Financial in a research note issued on Monday, Benzinga reports. They presently have a $11.00 target price on the software maker’s stock. BWS Financial’s target price suggests a potential upside of 15.30% from the stock’s previous close.

Separately, StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Friday, May 17th.

Immersion Stock Performance

NASDAQ:IMMR opened at $9.54 on Monday. The stock’s 50-day simple moving average is $9.22 and its 200 day simple moving average is $7.87. The company has a market cap of $303.85 million, a P/E ratio of 6.96 and a beta of 1.50. Immersion has a 52-week low of $5.94 and a 52-week high of $11.04.

Immersion (NASDAQ:IMMR) last released its earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The business had revenue of $43.85 million for the quarter, compared to the consensus estimate of $24.94 million. Immersion had a return on equity of 24.50% and a net margin of 62.74%. As a group, equities analysts predict that Immersion will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $10.68, for a total transaction of $52,833.96. Following the transaction, the chief financial officer now owns 45,053 shares of the company’s stock, valued at $481,166.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

Several institutional investors and hedge funds have recently made changes to their positions in the company. EMC Capital Management acquired a new position in shares of Immersion in the first quarter valued at approximately $120,000. Price T Rowe Associates Inc. MD grew its position in shares of Immersion by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock valued at $218,000 after purchasing an additional 1,140 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Immersion in the first quarter valued at approximately $72,000. Quadrature Capital Ltd acquired a new position in shares of Immersion in the first quarter valued at approximately $250,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Immersion in the first quarter valued at approximately $158,000. 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.