Immersion (NASDAQ:IMMR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Immersion Corporation (NASDAQ:IMMR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.55 and traded as high as $7.58. Immersion shares last traded at $7.56, with a volume of 258,863 shares.

Analysts Set New Price Targets

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

Immersion Trading Up 2.0%

The business has a 50 day moving average of $7.21 and a two-hundred day moving average of $6.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. The firm has a market capitalization of $255.89 million, a price-to-earnings ratio of 55.07 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $270.00 million during 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%. Equities analysts predict that Immersion Corporation will post 0.26 EPS for the current year.

Immersion Announces Dividend

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

Insider Buying and Selling

In other Immersion news, insider Toro 18 Holdings Llc sold 42,019 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $4.61, for a total transaction of $193,707.59. Following the transaction, the insider owned 1,235,732 shares in the company, valued at approximately $5,696,724.52. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 312,815 shares of company stock worth $1,598,671. Insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Immersion

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC bought a new position in Immersion in the 2nd quarter valued at about $27,000. Strs Ohio purchased a new stake in shares of Immersion in the first quarter worth approximately $27,000. Russell Investments Group Ltd. raised its stake in shares of Immersion by 85.5% in the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after purchasing an additional 2,041 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Immersion during the second quarter valued at approximately $41,000. Finally, Optiver Holding B.V. boosted its position in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after buying an additional 7,414 shares during 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.