Blair William & Co. IL Takes Position in Immersion Corporation (IMMR)

Blair William & Co. IL bought a new stake in Immersion Corporation (NASDAQ:IMMR) during the first quarter, Holdings Channel reports. The fund bought 10,000 shares of the software maker’s stock, valued at approximately $109,000.

Several other large investors also recently bought and sold shares of IMMR. Russell Investments Group Ltd. bought a new stake in Immersion Corporation during the fourth quarter valued at approximately $590,000. State Street Corp boosted its stake in Immersion Corporation by 7.0% in the fourth quarter. State Street Corp now owns 482,249 shares of the software maker’s stock valued at $5,129,000 after buying an additional 31,521 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Immersion Corporation during the fourth quarter valued at approximately $499,000. Bayesian Capital Management LP bought a new stake in Immersion Corporation during the fourth quarter valued at approximately $124,000. Finally, Renaissance Technologies LLC bought a new stake in Immersion Corporation during the fourth quarter valued at approximately $392,000. 75.81% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Immersion Corporation (NASDAQ:IMMR)

Shares of Immersion Corporation (NASDAQ:IMMR) opened at 8.67 on Tuesday. The stock’s market capitalization is $252.87 million. Immersion Corporation has a 52-week low of $6.24 and a 52-week high of $11.92. The stock has a 50 day moving average of $8.56 and a 200 day moving average of $9.54.

Immersion Corporation (NASDAQ:IMMR) last issued its earnings results on Thursday, May 4th. The software maker reported ($0.30) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.30). The firm had revenue of $9.22 million during the quarter, compared to analyst estimates of $11.09 million. Immersion Corporation had a negative net margin of 94.05% and a negative return on equity of 25.30%. The business’s revenue was down 32.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) earnings per share. Analysts forecast that Immersion Corporation will post ($1.02) earnings per share for the current year.

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Several equities research analysts have recently commented on IMMR shares. B. Riley reaffirmed a “buy” rating and issued a $13.00 target price on shares of Immersion Corporation in a research report on Monday, February 27th. Zacks Investment Research raised shares of Immersion Corporation from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Thursday, March 2nd. Craig Hallum cut shares of Immersion Corporation from a “buy” rating to a “hold” rating and dropped their target price for the stock from $11.00 to $8.00 in a research report on Friday, March 3rd. Dougherty & Co reaffirmed a “buy” rating and issued a $13.00 target price (up from $11.00) on shares of Immersion Corporation in a research report on Friday, March 3rd. Finally, TheStreet cut shares of Immersion Corporation from a “c” rating to a “d” rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Immersion Corporation currently has a consensus rating of “Hold” and an average target price of $11.10.

In related news, Director Jack L. Saltich bought 5,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average cost of $8.26 per share, with a total value of $41,300.00. Following the completion of the purchase, the director now owns 113,239 shares of the company’s stock, valued at $935,354.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.22% of the stock is currently owned by insiders.

About Immersion Corporation

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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