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

Immersion (NASDAQ:IMMR - Get Free Report) had its price objective cut by research analysts at Craig Hallum from $14.00 to $11.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Craig Hallum's price objective would suggest a potential upside of 44.74% from the stock's current price.

Separately, BWS Financial reaffirmed a "buy" rating and set a $13.50 target price on shares of Immersion in a report on Wednesday, February 5th.

Immersion Price Performance

NASDAQ IMMR traded up $0.16 on Thursday, hitting $7.60. The company had a trading volume of 499,677 shares, compared to its average volume of 522,467. The company has a market capitalization of $245.30 million, a PE ratio of 2.71 and a beta of 1.55. The company's fifty day moving average price is $8.34 and its 200-day moving average price is $8.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. Immersion has a 12-month low of $7.06 and a 12-month high of $13.94.

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

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Insider Transactions at Immersion

In other news, Director Toro 18 Holdings Llc purchased 59,146 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the transaction, the director now owns 11,065,848 shares in the company, valued at $93,949,049.52. The trade was a 0.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new position in shares of Immersion during the 3rd quarter valued at about $3,113,000. Barclays PLC boosted its position in shares of Immersion by 276.0% during the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker's stock valued at $353,000 after acquiring an additional 29,054 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Immersion by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker's stock valued at $447,000 after acquiring an additional 2,879 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Immersion in the fourth quarter valued at about $51,000. Finally, State Street Corp lifted its position in Immersion by 1.0% in the third quarter. State Street Corp now owns 681,414 shares of the software maker's stock valued at $6,078,000 after buying an additional 6,990 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company's stock.

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.