Immersion (NASDAQ:IMMR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Immersion Corporation (NASDAQ:IMMR – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.81 and traded as high as $7.16. Immersion shares last traded at $7.14, with a volume of 482,461 shares.

Wall Street Analysts Forecast Growth

IMMR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Finally, BWS Financial reiterated a “buy” rating and set a $13.50 price target on shares of Immersion in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Read Our Latest Report on Immersion

Immersion Trading Down 2.5%

The firm has a market capitalization of $231.14 million, a price-to-earnings ratio of 20.47 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $7.41 and its 200 day moving average is $6.81.

Immersion (NASDAQ:IMMR – Get Free Report) last posted its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.11. The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $3.43 million. Immersion had a net margin of 0.60% and a return on equity of 1.83%. Equities analysts forecast that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.30 annualized dividend and a dividend yield of 4.3%. Immersion’s dividend payout ratio (DPR) is currently 88.24%.

Insider Buying and Selling at Immersion

In related news, insider Toro 18 Holdings Llc sold 105,541 shares of Immersion stock in a transaction on Friday, September 11th. The stock was sold at an average price of $4.63, for a total value of $488,654.83. Following the transaction, the insider directly owned 1,101,832 shares in the company, valued at $5,101,482.16. The trade was a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Singer bought 41,000 shares of the business’s stock in a transaction dated Wednesday, October 7th. The shares were bought at an average cost of $7.14 per share, for a total transaction of $292,740.00. Following the completion of the transaction, the chief executive officer directly owned 2,230,664 shares of the company’s stock, valued at $15,926,940.96. This trade represents a 1.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 442,815 shares of company stock valued at $2,201,304. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Immersion

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Immersion in the 2nd quarter worth about $16,527,000. Kanen Wealth Management LLC lifted its stake in Immersion by 51.0% during the first 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 in the last quarter. Squarepoint Ops LLC lifted its stake in Immersion by 34.4% during the second quarter. Squarepoint Ops LLC now owns 549,689 shares of the software maker’s stock valued at $3,721,000 after buying an additional 140,741 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Immersion during the second quarter valued at about $2,128,000. Finally, Bank of America Corp DE purchased a new stake in Immersion during the second quarter valued at about $763,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

About Immersion

(Get Free Report)

Immersion Corporation is a technology company that develops and licenses haptic technologies, which enable electronic devices to provide tactile feedback such as vibrations, textures and other touch sensations. Its technologies are designed to make digital interactions more intuitive and immersive.

The company’s haptic solutions and intellectual property are used across a range of markets, including smartphones and other consumer electronics, gaming systems and controllers, automotive interfaces, medical equipment and industrial devices.

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