TIAA CREF Investment Management LLC raised its position in Immersion Corporation (NASDAQ:IMMR) by 32.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,785 shares of the software maker’s stock after purchasing an additional 24,384 shares during the quarter. TIAA CREF Investment Management LLC owned 0.34% of Immersion Corporation worth $906,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Immersion Corporation by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock worth $10,342,000 after purchasing an additional 69,383 shares during the period. Thomson Horstmann & Bryant Inc. raised its holdings in shares of Immersion Corporation by 8.7% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 879,376 shares of the software maker’s stock valued at $7,984,000 after buying an additional 70,640 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Immersion Corporation by 12.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 347,922 shares of the software maker’s stock valued at $3,013,000 after buying an additional 38,284 shares during the period. Geode Capital Management LLC raised its holdings in shares of Immersion Corporation by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock valued at $2,159,000 after buying an additional 7,191 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in shares of Immersion Corporation during the 2nd quarter valued at about $232,000. Institutional investors own 73.45% of the company’s stock.
Several equities research analysts recently commented on IMMR shares. Cowen and Company set a $11.00 target price on Immersion Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. B. Riley restated a “buy” rating and set a $9.75 price objective on shares of Immersion Corporation in a research note on Monday, October 30th. Zacks Investment Research upgraded Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, ValuEngine upgraded Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.17.
Immersion Corporation (NASDAQ:IMMR) opened at $6.23 on Friday. Immersion Corporation has a 12-month low of $6.20 and a 12-month high of $11.92.
Immersion Corporation (NASDAQ:IMMR) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.16. The business had revenue of $11.90 million during the quarter, compared to analyst estimates of $7.33 million. Immersion Corporation had a negative return on equity of 100.50% and a negative net margin of 190.18%. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. research analysts forecast that Immersion Corporation will post -1.18 EPS for the current year.
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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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