Immersion (NASDAQ:IMMR) Issues Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Immersion (NASDAQ:IMMR) posted its quarterly earnings data on Monday. The software maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.06 by $0.44, FiscalAI reports. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The business had revenue of $294.40 million during the quarter, compared to analyst estimates of $3.43 million.

Immersion Price Performance

NASDAQ IMMR opened at $7.45 on Monday. The business’s fifty day moving average is $7.28 and its two-hundred day moving average is $6.61. The stock has a market capitalization of $247.10 million, a P/E ratio of 53.00 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 has a 1 year low of $5.25 and a 1 year high of $8.05.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a $0.075 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.0%. Immersion’s dividend payout ratio is 214.29%.

Analyst Ratings Changes

IMMR has been the topic of a number of research reports. BWS Financial restated a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Tuesday, July 28th. Weiss Ratings downgraded Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.50.

Insider Buying and Selling at Immersion

In other Immersion news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the transaction, the insider directly owned 1,344,647 shares in the company, valued at $7,019,057.34. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 442,815 shares of company stock worth $2,201,304. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immersion

A number of hedge funds and other institutional investors have recently bought and sold shares of IMMR. Russell Investments Group Ltd. boosted its stake in Immersion by 85.5% in the 3rd 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 period. Tower Research Capital LLC TRC boosted its stake in shares of Immersion by 677.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after acquiring an additional 6,743 shares during the period. XTX Topco Ltd acquired a new stake in Immersion during the 2nd quarter valued at $80,000. Virtu Financial LLC bought a new position in Immersion during the fourth quarter worth $84,000. Finally, Parallel Advisors LLC bought a new position in shares of Immersion in the fourth quarter valued at about $86,000. 60.57% of the stock is owned by institutional investors.

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.