Immersion (NASDAQ: IMMR) Zacks Investment Research used a & # 39; hold & # 39; credit to a & # 39; sell & # 39; rating downgraded in a study letter that was issued on Thursday, August 9th.
According to Zacks, "IMMERSION CORP. Develops hardware and software technologies that enable users to communicate with computers using their sense of touch – their patented technologies, which fall under the TouchSense brand, ensure devices such as mice, joysticks, buttons and Medical simulation products can deliver tactile sensations that match events on the screen, focusing on four areas of application: computer use and entertainment, medical simulation, professional and industrial and three-dimensional capture and interaction. "
IMMR has been the subject of a number of other research reports. BidaskClub reduced the immersion from a "buy" classification to a "hold" rating in a report on Friday, July 13. TheStreet renewed Immersion from a "d" rating to a "c" rating in a report on Friday, May 11. Craig Hallum lowered their target price on Immersion from $ 17.00 to $ 14.00 and placed a "hold" valuation on the shares in a report on Friday, August 3. ValuEngine reduced the lower crew from a "buy" classification to a "hold" score in a report of Monday 2 July. Finally, on Tuesday 26 June, Dougherty & Co Immersion reduced a report from a "buy" rating to a "neutral" rating. Two investment analysts have rated the shares with a sell rating, three have a hold rating and one has awarded a buy rating to the company. The company currently has an average rating of "Hold" and an average price target of $ 13.81.
Immersed morning during the afternoon trade on Thursday decreased by $ 0.18 and hit $ 11.43. 395,315 shares of the company were exchanged, compared with the average volume of 656,559. The company has a market capitalization of $ 343.71 million, a price-earnings ratio of -9.61, a PEG ratio of 0.43 and a beta of 1.05. Immersion has a 12-month low of $ 5.76 and a 12-month peak of $ 17.70.
Immersion (NASDAQ: IMMR) last released the quarterly results on Thursday, August 2. The software producer reported ($ 0.18) EPS for the quarter, missing the Zacks consensus estimate of ($ 0.09) with ($ 0.09). The company had revenues of $ 6.14 million during the quarter compared with analyst expectations of $ 9.56 million. Immersion had a net margin of 40.38% and a return on equity of 86.57%. The turnover of Immersion for the quarter decreased by 12.6% on an annual basis. During the same period in the previous year the company earned ($ 0.51) EPS. Research analysts expect Immersion to publish 1.75 per share for the current fiscal year.
In other news, major shareholder Senvest Management, Llc sold 177,818 shares of Immersion shares in a transaction dated Thursday, June 7. The stock was sold at an average price of $ 15.93 for a total transaction of $ 2,832,640.74. The sale has been published in a document that has been filed with the SEC, and is accessible via this hyperlink. 18.59% of the shares are currently held by insiders.
Several hedge funds and other institutional investors have recently changed their IMMR positions. BlackRock Inc. increased its shareholdings in Immersion by 9.6% in the second quarter. BlackRock Inc. now owns 2,057,280 shares of software from the software vendor with a value of $ 31,765,000 after the purchase of an additional amount of 179,655 shares during the last quarter. Millennium Management LLC bought a new stake in Immersion in the first quarter of approximately $ 13,044,000. Dimensional Fund Advisors LP bought a new stake in Immersion worth approximately $ 4,688,000 in the second quarter. Mackay Shields LLC increased its shareholdings in Immersion by 378.5% in the second quarter. Mackay Shields LLC now owns 242,600 shares of the software maker's stock with a value of $ 3,745,000 after purchasing another 191,900 shares during the last quarter. Finally, Baird bought Financial Group Inc. in the first quarter a new interest in Immersion, worth about $ 2,621,000. 76.80% of the shares are currently held by institutional investors and hedge funds.
Immersion Company Profile
Immersion Corporation designs, designs, develops and licenses haptic technologies in North America, Europe and Asia. The technologies enable people to use their sense of touch when engaging in various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits with which original manufacturers of equipment and their suppliers can add custom haptic technologies to their own branded devices and other products.
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