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

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reaffirmed by stock analysts at BWS Financial in a report issued on Wednesday,Benzinga reports. They currently have a $13.50 price target on the software maker’s stock. BWS Financial’s target price would suggest a potential upside of 61.97% from the stock’s current price.

Immersion Stock Performance

Shares of IMMR opened at $8.34 on Wednesday. The company has a 50-day moving average of $8.79 and a two-hundred day moving average of $9.17. 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 stock has a market cap of $269.05 million, a P/E ratio of 2.98 and a beta of 1.50. Immersion has a 12-month low of $6.54 and a 12-month high of $13.94.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Monday, December 16th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. As a group, research analysts predict that Immersion will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Immersion

Several institutional investors have recently bought and sold shares of IMMR. Segall Bryant & Hamill LLC bought a new stake in shares of Immersion in the 3rd quarter worth approximately $3,113,000. Kanen Wealth Management LLC boosted its position in Immersion by 84.6% during the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after acquiring an additional 275,000 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Immersion in the 3rd quarter worth $1,063,000. Sanctuary Advisors LLC acquired a new stake in shares of Immersion during the 3rd quarter valued at about $740,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Immersion by 16.8% during the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock worth $3,127,000 after purchasing an additional 51,655 shares during the last quarter. Institutional investors 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.