Immersion (NASDAQ:IMMR) Upgraded by Wall Street Zen to "Buy" Rating

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

Several other analysts also recently commented on IMMR. BWS Financial reaffirmed a "buy" rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum dropped their price objective on shares of Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, March 13th.

Immersion Trading Down 0.1%

IMMR traded down $0.01 during trading on Thursday, reaching $7.41. 16,030 shares of the stock traded hands, compared to its average volume of 678,819. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average is $7.34 and its 200 day moving average is $8.15. Immersion has a 12 month low of $6.47 and a 12 month high of $13.94. The stock has a market capitalization of $239.89 million, a PE ratio of 2.64 and a beta of 1.40.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. Equities analysts anticipate that Immersion will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Eric Singer purchased 42,638 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the acquisition, the chief executive officer now owns 2,161,866 shares in the company, valued at $16,235,613.66. This trade represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the purchase, the director now owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 128,934 shares of company stock worth $1,027,343. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immersion

Several institutional investors have recently made changes to their positions in IMMR. Farther Finance Advisors LLC raised its stake in shares of Immersion by 29,900.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock valued at $26,000 after purchasing an additional 2,990 shares during the period. SBI Securities Co. Ltd. purchased a new position in Immersion during the 4th quarter valued at about $51,000. GAMMA Investing LLC increased its position in shares of Immersion by 509.9% during the first quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker's stock valued at $460,000 after buying an additional 5,089 shares during the period. Quarry LP purchased a new stake in shares of Immersion in the fourth quarter worth about $54,000. Finally, AlphaQuest LLC bought a new position in shares of Immersion in the fourth quarter valued at approximately $61,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.