Immersion (NASDAQ:IMMR) Price Target Lowered to $11.00 at Craig Hallum

Immersion (NASDAQ:IMMR) had its target price decreased by Craig Hallum from $14.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s target price suggests a potential upside of 46.76% from the company’s previous close.

Separately, BWS Financial reiterated a “buy” rating and issued a $13.50 price objective on shares of Immersion in a report on Wednesday, February 5th.

Immersion Price Performance

Shares of IMMR stock opened at $7.50 on Thursday. The firm has a market capitalization of $241.91 million, a price-to-earnings ratio of 2.67 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $8.36 and its 200-day moving average is $8.63. Immersion has a 1 year low of $7.06 and a 1 year high of $13.94.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Sell-side analysts forecast that Immersion will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Immersion

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in Immersion by 29,900.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock worth $26,000 after acquiring an additional 2,990 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Immersion in the fourth quarter worth $51,000. Quarry LP bought a new position in Immersion in the fourth quarter worth approximately $54,000. AlphaQuest LLC bought a new stake in shares of Immersion during the fourth quarter valued at approximately $61,000. Finally, Legal & General Group Plc raised its position in shares of Immersion by 44.2% during the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock worth $69,000 after purchasing an additional 2,425 shares during the period. Institutional investors and hedge funds 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.