Immersion (NASDAQ:IMMR) Rating Reiterated

In an analyst note sent to investors on today, Craig-Hallum kept their “Buy” rating on Immersion (NASDAQ:IMMR)’s Stock. The target gives a potential upside of 50.00 % from company’s last stock close.

NASDAQ:IMMR is currently trading -1.09% lower at $8.20 as of 6:03 PM New York time. Immersion’s stock is 0% in the last 200 days. It has underperformed the S&P 500, which has added 6.00% in the same time.

According to data compiled by Thomson Reuters, Immersion (NASDAQ:IMMR)’s stock is covered by 6 equity analysts across the Street, with 0 analysts giving it a Sell rating, 5 a Buy rating, while 0 consider it a Hold. The 12-month consensus target price for the stock is $13.04, which reflects an upside potential of 59.02% over the current price.

Institutional Ownership

Kingdom Ridge Capital Llc had the biggest stake with ownership of 1.81M shares as of q2 2015 for 10.63% of the fund portfolio. Shannon River Fund Management Llc is another quite bullish active investment manager who is possessing 2.43M shares of Immersion or 5.53% of their fund portfolio. In addition, Clearline Capital Lp have 1.06% of their fund portfolio invested in the company for 414,880 shares. The New York-based fund Penbrook Management Llc disclosed it had acquired a stake worth about 0.94% of the active investment manager’s stock portfolio in Immersion. The Connecticut-based fund Thomson Horstmann & Bryant Inc is also positive about the stock, possessing 107,336 shares or 0.78% of their fund portfolio.

Immersion (NASDAQ:IMMR) Profile

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.

Immersion (NASDAQ:IMMR) traded down -1.09% on 29 January, hitting $8.2. A total of 117,254 shares of the company’s stock traded hands. This is down from average of 142,391 shares. Immersion has a 52 week low of $6.22 and a 52 week high of $11.92. The company has a market cap of $239.95 million and a P/E ratio of 0.

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The post Craig-Hallum Analyst Reaffirmed $15.0 Price Target on Immersion (NASDAQ:IMMR) stock, While Reiterating “Buy” Rating appeared first on Octafinance.