Immersion (NASDAQ:IMMR) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Immersion from “Sell” to “Hold,” matching the broader consensus rating. Analysts’ average price target is $13.50, with coverage split among Buy, Hold, and Sell ratings.
• Immersion reported quarterly EPS of $0.12, beating the $0.05 consensus estimate, while revenue of $270 million exceeded expectations of $230 million.
• Shares opened at $7.74, near the company’s 52-week high of $7.75. Institutional investors and hedge funds own approximately 60.57% of Immersion’s stock.

Immersion (NASDAQ:IMMR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday.

A number of other research analysts also recently issued reports on IMMR. Weiss Ratings downgraded Immersion from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. Zacks Research upgraded Immersion to a "hold" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Immersion has a consensus rating of "Hold" and an average target price of $13.50.

Immersion Price Performance

NASDAQ IMMR opened at $7.74 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83. The firm's 50 day moving average price is $6.60 and its 200-day moving average price is $6.35. Immersion has a 52-week low of $5.25 and a 52-week high of $7.75. The company has a market cap of $256.19 million, a PE ratio of 55.29 and a beta of 1.02.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Immersion had a net margin of 0.26% and a return on equity of 0.81%. Sell-side analysts forecast that Immersion will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Immersion

Several hedge funds have recently modified their holdings of IMMR. Russell Investments Group Ltd. boosted its stake in Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker's stock worth $33,000 after purchasing an additional 2,041 shares in the last quarter. Strs Ohio acquired a new position in Immersion during the 1st quarter valued at approximately $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Immersion by 677.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker's stock worth $61,000 after buying an additional 6,743 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of Immersion by 1,681.2% in the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker's stock worth $43,000 after buying an additional 7,414 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Immersion during the second quarter worth $80,000. Institutional investors and hedge funds own 60.57% of the company's stock.

Immersion Company Profile

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company's proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion's core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.

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