Immersion (NASDAQ:IMMR) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Immersion (NASDAQ:IMMR) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $9.75 price objective on the software maker’s stock.

According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “

A number of other analysts also recently issued reports on IMMR. TheStreet downgraded shares of Immersion from a b- rating to a c rating in a report on Friday, May 7th. Colliers Securities restated a buy rating and set a $15.00 price target on shares of Immersion in a report on Sunday, March 7th.

IMMR opened at $8.69 on Thursday. The business has a 50 day simple moving average of $8.43. Immersion has a 1-year low of $5.67 and a 1-year high of $16.64. The stock has a market cap of $268.40 million, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.81.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, May 6th. The software maker reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. Immersion had a net margin of 39.11% and a return on equity of 16.72%. The business had revenue of $7.16 million for the quarter. Equities research analysts expect that Immersion will post 0.58 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Senvest Management LLC increased its holdings in Immersion by 41.3% in the 4th quarter. Senvest Management LLC now owns 378,946 shares of the software maker’s stock valued at $4,278,000 after purchasing an additional 110,732 shares during the last quarter. Roubaix Capital LLC acquired a new stake in Immersion in the 1st quarter valued at approximately $4,580,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Immersion by 215.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,439 shares of the software maker’s stock valued at $536,000 after purchasing an additional 32,395 shares during the last quarter. Jane Street Group LLC acquired a new stake in Immersion in the 4th quarter valued at approximately $359,000. Finally, Greenwood Capital Associates LLC increased its holdings in Immersion by 47.1% in the 4th quarter. Greenwood Capital Associates LLC now owns 84,098 shares of the software maker’s stock valued at $949,000 after purchasing an additional 26,937 shares during the last quarter. Institutional investors and hedge funds own 61.76% of the company’s stock.

About Immersion

Immersion Corporation, together with its subsidiaries, creates, designs, develops, and licenses 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.

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