Immersion (NASDAQ:IMMR) Releases Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Immersion (NASDAQ:IMMR) released its quarterly earnings data on Tuesday. The software maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.55, Yahoo Finance reports. The business had revenue of $99.42 million during the quarter, compared to analysts’ expectations of $7.29 million. Immersion had a return on equity of 24.50% and a net margin of 62.74%.

Immersion Price Performance

Shares of IMMR stock traded up $0.29 during midday trading on Wednesday, hitting $10.22. The company had a trading volume of 1,409,540 shares, compared to its average volume of 617,585. The stock has a market cap of $325.56 million, a price-to-earnings ratio of 7.70 and a beta of 1.50. Immersion has a 52-week low of $5.94 and a 52-week high of $13.94. The company’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $8.92.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 8th were paid a dividend of $0.045 per share. The ex-dividend date was Monday, July 8th. This represents a $0.18 annualized dividend and a dividend yield of 1.76%. Immersion’s dividend payout ratio (DPR) is 13.14%.

Analysts Set New Price Targets

IMMR has been the subject of several recent analyst reports. BWS Financial restated a “buy” rating and set a $11.00 price objective on shares of Immersion in a research report on Monday, July 1st. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research report on Friday, May 17th.

Insider Transactions at Immersion

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of Immersion stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $10.68, for a total value of $52,833.96. Following the sale, the chief financial officer now owns 45,053 shares of the company’s stock, valued at approximately $481,166.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

About Immersion

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.