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

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

Separately, Craig Hallum cut their price objective on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday.

Immersion Stock Up 2.2 %

IMMR stock opened at $7.60 on Thursday. Immersion has a 1-year low of $7.06 and a 1-year high of $13.94. The business has a fifty day moving average price of $8.34 and a 200-day moving average price of $8.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The stock has a market capitalization of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.45 million. Equities analysts forecast that Immersion will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Immersion

Several hedge funds have recently bought and sold shares of the stock. PharVision Advisers LLC bought a new stake in Immersion during the fourth quarter valued at about $202,000. Sherbrooke Park Advisers LLC bought a new stake in Immersion during the fourth quarter valued at about $170,000. ProShare Advisors LLC grew its holdings 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 purchasing an additional 2,064 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Immersion by 11.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker’s stock valued at $4,448,000 after purchasing an additional 48,843 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new stake in Immersion during the fourth quarter valued at about $186,000. 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.