Immersion (NASDAQ:IMMR) Announces Earnings Results, Misses Expectations By $0.18 EPS

Key Points

• Missed expectations: Immersion reported ($0.03) EPS vs. $0.15 expected (a $0.18 miss) and revenue of $292.03 million, well below the $425.00 million consensus.
• Stock reaction: Shares traded down about 5.8% to $5.59 after the release, leaving a market cap near $183.96 million and a trailing P/E of 2.03 while volume lagged its average.
• Institutional ownership: Roughly 60.57% of the stock is held by institutions, with several funds (Russell, First Trust, Bridgeway, Invesco, Mirae) modestly increasing positions recently.

Immersion (NASDAQ:IMMR - Get Free Report) issued its earnings results on Wednesday. The software maker reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.18), Zacks reports. The company had revenue of $292.03 million during the quarter, compared to analysts' expectations of $425.00 million.

Immersion Trading Down 5.8%

Shares of IMMR stock traded down $0.34 during trading hours on Friday, hitting $5.59. The company's stock had a trading volume of 104,025 shares, compared to its average volume of 348,918. The stock has a market cap of $183.96 million, a PE ratio of 2.03 and a beta of 0.89. Immersion has a 12-month low of $5.65 and a 12-month high of $8.15. The company has a 50 day moving average of $6.32 and a 200 day moving average of $6.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMMR. Russell Investments Group Ltd. grew its position in Immersion by 85.5% during 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. First Trust Advisors LP lifted its holdings in shares of Immersion by 2.5% in the 4th quarter. First Trust Advisors LP now owns 86,080 shares of the software maker's stock valued at $585,000 after buying an additional 2,086 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Immersion by 5.9% in the third quarter. Bridgeway Capital Management LLC now owns 44,800 shares of the software maker's stock worth $329,000 after buying an additional 2,500 shares during the last quarter. Invesco Ltd. grew its holdings in Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker's stock worth $163,000 after acquiring an additional 2,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Immersion by 6.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,826 shares of the software maker's stock worth $564,000 after acquiring an additional 4,919 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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