Immersion (NASDAQ:IMMR) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

by · The Markets Daily

Immersion Corporation (NASDAQ:IMMR – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.50 and traded as high as $7.75. Immersion shares last traded at $7.69, with a volume of 304,694 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BWS Financial reaffirmed a “buy” rating and issued a $13.50 price target on shares of Immersion in a research note on Tuesday, July 28th. Zacks Research raised shares of Immersion to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings lowered shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Immersion has an average rating of “Hold” and a consensus price target of $13.50.

View Our Latest Research Report on Immersion

Immersion Stock Performance

The stock has a 50-day moving average of $7.10 and a 200-day moving average of $6.51. The firm has a market cap of $254.58 million, a price-to-earnings ratio of 54.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30.

Immersion (NASDAQ:IMMR – Get Free Report) last released its earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. As a group, analysts anticipate that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, July 20th. Immersion’s dividend payout ratio is currently 214.29%.

Insider Activity

In related news, major shareholder Toro 18 Holdings Llc sold 8,300 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $4.83, for a total transaction of $40,089.00. Following the sale, the insider owned 1,277,751 shares in the company, valued at approximately $6,171,537.33. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 266,896 shares of company stock valued at $1,387,218 over the last 90 days. 12.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kanen Wealth Management LLC boosted its holdings in shares of Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after buying an additional 239,318 shares during the last quarter. Callan Family Office LLC bought a new position in shares of Immersion in the second quarter valued at $458,000. Quantinno Capital Management LP increased its holdings in Immersion by 230.8% during the second quarter. Quantinno Capital Management LP now owns 65,484 shares of the software maker’s stock worth $516,000 after buying an additional 45,687 shares during the last quarter. Metis Global Partners LLC increased its holdings in Immersion by 73.4% during the fourth quarter. Metis Global Partners LLC now owns 33,585 shares of the software maker’s stock worth $228,000 after buying an additional 14,218 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Immersion during the second quarter worth $129,000. 60.57% of the stock is currently owned by institutional investors.

Immersion Company Profile

(Get Free Report)

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.

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