BWS Financial Reaffirms “Buy” Rating for Immersion (NASDAQ:IMMR)

BWS Financial reiterated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research note published on Wednesday morning,Benzinga reports. BWS Financial currently has a $13.50 target price on the software maker’s stock.

Immersion Trading Down 1.4 %

IMMR opened at $8.30 on Wednesday. Immersion has a fifty-two week low of $6.54 and a fifty-two week high of $13.94. 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 company has a market cap of $267.92 million, a price-to-earnings ratio of 2.96 and a beta of 1.50. The firm has a 50 day simple moving average of $8.76 and a 200 day simple moving average of $9.13.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Monday, December 16th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. On average, sell-side analysts anticipate that Immersion will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Immersion

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Immersion by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock valued at $116,000 after purchasing an additional 1,139 shares in the last quarter. Hanseatic Management Services Inc. raised its position in Immersion by 2.6% in the 3rd quarter. Hanseatic Management Services Inc. now owns 54,679 shares of the software maker’s stock valued at $488,000 after buying an additional 1,411 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after acquiring an additional 2,416 shares in the last quarter. Franklin Resources Inc. boosted its position in Immersion by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after acquiring an additional 2,879 shares during the last quarter. Finally, Quartz Partners LLC grew its stake in shares of Immersion by 4.8% during the 4th quarter. Quartz Partners LLC now owns 77,546 shares of the software maker’s stock worth $677,000 after acquiring an additional 3,570 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Immersion Company Profile

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.