Wall Street Zen upgraded shares of Immersion (NASDAQ:IMMR - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday.
A number of other equities research analysts also recently weighed in on the stock. Craig Hallum dropped their price target on shares of Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. BWS Financial reiterated a "buy" rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th.
Check Out Our Latest Stock Report on IMMR
Immersion Stock Performance
Immersion stock traded up $0.15 during mid-day trading on Thursday, reaching $7.43. The company had a trading volume of 122,935 shares, compared to its average volume of 431,763. Immersion has a 52 week low of $6.47 and a 52 week high of $13.94. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The firm has a market cap of $240.73 million, a price-to-earnings ratio of 2.66 and a beta of 1.40. The company has a 50 day moving average of $7.32 and a 200-day moving average of $8.11.
Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The business had revenue of $474.76 million for the quarter, compared to analyst estimates of $9.45 million. On average, sell-side analysts expect that Immersion will post 1.57 EPS for the current fiscal year.
Immersion Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, April 14th. Immersion's payout ratio is 6.47%.
Insider Transactions at Immersion
In related news, Director Toro 18 Holdings Llc purchased 59,146 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the completion of the purchase, the director now owns 11,065,848 shares in the company, valued at $93,949,049.52. This represents a 0.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Singer acquired 42,638 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the transaction, the chief executive officer now directly owns 2,161,866 shares in the company, valued at $16,235,613.66. This represents a 2.01% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 128,934 shares of company stock valued at $1,027,343 over the last three months. 5.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Immersion
Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Immersion by 29,900.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock worth $26,000 after acquiring an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Immersion in the fourth quarter valued at $51,000. Quarry LP acquired a new stake in Immersion in the 4th quarter valued at $54,000. AlphaQuest LLC bought a new stake in Immersion during the 4th quarter worth about $61,000. Finally, Legal & General Group Plc grew its holdings in shares of Immersion by 44.2% in the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock valued at $69,000 after acquiring an additional 2,425 shares in the last quarter. Institutional investors and hedge funds own 60.57% of the company's stock.
Immersion Company Profile
(
Get Free Report)
Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.
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