Immersion (NASDAQ:IMMR) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Technical move: Immersion intraday crossed above its 200-day moving average of $6.47, trading as high as $6.56 (last $6.40) on volume of 423,513 shares.
• Earnings beat: The company reported $0.36 EPS versus $0.15 expected and revenue of $650.17M versus $425M expected, though net margin remains low at 1.03%.
• Dividend yield: Immersion declared a $0.075 quarterly dividend (annualized $0.30) implying a ~4.7% yield, with record/ex-dividend date on April 20 and payment on May 1.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.47 and traded as high as $6.56. Immersion shares last traded at $6.40, with a volume of 423,513 shares.

Immersion Price Performance

The stock has a market capitalization of $211.84 million, a PE ratio of 8.00 and a beta of 0.94. The stock's 50 day moving average is $6.02 and its two-hundred day moving average is $6.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.12 and a current ratio of 1.88.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The software maker reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.21. The firm had revenue of $650.17 million for the quarter, compared to analyst estimates of $425.00 million. Immersion had a net margin of 1.03% and a return on equity of 4.29%.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Monday, April 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, April 20th. Immersion's dividend payout ratio is currently 37.50%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new position in Immersion in the 4th quarter valued at $139,000. Engineers Gate Manager LP acquired a new position in Immersion in the 2nd quarter valued at $129,000. Aquatic Capital Management LLC acquired a new position in Immersion in the 3rd quarter valued at $124,000. Odyssean LLC acquired a new position in Immersion in the 4th quarter valued at $101,000. Finally, Parallel Advisors LLC acquired a new position in Immersion in the 4th quarter valued at $86,000. 60.57% of the stock is 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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