Immersion (NASDAQ:IMMR) Releases Earnings Results, Beats Estimates By $0.07 EPS

Immersion (NASDAQ:IMMR) issued its quarterly earnings data on Friday. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07, FiscalAI reports. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. The business had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million.

Immersion Trading Down 1.2%

NASDAQ IMMR traded down $0.08 during trading hours on Friday, hitting $6.52. 342,828 shares of the company’s stock were exchanged, compared to its average volume of 557,282. The business’s 50 day moving average is $6.56 and its 200-day moving average is $6.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83. Immersion has a 12-month low of $5.25 and a 12-month high of $7.51. The firm has a market capitalization of $215.81 million, a P/E ratio of 326.00 and a beta of 1.02.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 20th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, July 20th. This represents a $0.30 annualized dividend and a yield of 4.6%. Immersion’s dividend payout ratio is 1,500.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Zacks Research raised shares of Immersion to a “hold” rating in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IMMR. Russell Investments Group Ltd. boosted its position 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 acquiring an additional 2,041 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Immersion by 677.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after purchasing an additional 6,743 shares during the last quarter. XTX Topco Ltd purchased a new position in Immersion during the second quarter worth approximately $80,000. Virtu Financial LLC purchased a new position in Immersion during the fourth quarter worth approximately $84,000. Finally, Parallel Advisors LLC purchased a new position in Immersion during the fourth quarter worth approximately $86,000. 60.57% of the stock is currently owned by hedge funds and other 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.