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

Immersion Corporation (NASDAQ:IMMR)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.42 and traded as high as $7.66. Immersion shares last traded at $7.60, with a volume of 667,585 shares changing hands.

Analyst Ratings Changes

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

Immersion Price Performance

The business’s 50-day simple moving average is $6.82 and its two-hundred day simple moving average is $6.42. The stock has a market cap of $252.24 million, a price-to-earnings ratio of 54.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The company had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Research analysts expect that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 20th were given a $0.075 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.30 annualized dividend and a yield of 3.9%. Immersion’s dividend payout ratio (DPR) is currently 214.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IMMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after buying an additional 44,112 shares during the period. XTX Topco Ltd acquired a new stake in Immersion in the second quarter valued at approximately $80,000. Quantbot Technologies LP grew its stake in Immersion by 212.3% in the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock valued at $356,000 after acquiring an additional 30,703 shares during the period. Invesco Ltd. increased its holdings in shares of Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock valued at $163,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock valued at $998,000 after acquiring an additional 103,176 shares in the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

About Immersion

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.