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

Key Points

• Immersion shares crossed above their 200-day moving average, reaching $7.58 and last trading at $7.56, compared with a 200-day average of $6.55.
• Analysts maintain a consensus “Hold” rating with an average price target of $13.50; one firm reaffirmed a Buy rating while others issued Hold-related revisions.
• The company exceeded quarterly expectations, reporting $0.12 in adjusted EPS versus $0.05 expected and $270 million in revenue versus $230 million forecast, while paying a $0.075 quarterly dividend yielding about 4% annually.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.55 and traded as high as $7.58. Immersion shares last traded at $7.56, with a volume of 258,863 shares traded.

Wall Street Analysts Forecast Growth

IMMR has been the subject of a number of analyst reports. BWS Financial reaffirmed a "buy" rating and issued a $13.50 price target on shares of Immersion in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Immersion from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings lowered shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Immersion to a "hold" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $13.50.

Immersion Stock Performance

The stock has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $6.55. The stock has a market cap of $250.92 million, a price-to-earnings ratio of 54.00 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 (NASDAQ:IMMR - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The company had revenue of $270.00 million during the quarter, compared to analysts' expectations of $230.00 million. Analysts expect that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 20th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $0.30 annualized dividend and a yield of 4.0%. Immersion's payout ratio is presently 214.29%.

Insider Buying and Selling

In other news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $5.22, for a total value of $1,044,000.00. Following the completion of the transaction, the insider owned 1,344,647 shares of the company's stock, valued at approximately $7,019,057.34. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 266,896 shares of company stock worth $1,387,218 over the last three months. 12.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immersion

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in Immersion by 2.1% in the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker's stock valued at $480,000 after buying an additional 1,819 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Immersion by 85.5% during the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker's stock worth $33,000 after buying an additional 2,041 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Immersion by 5.9% during 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 in the last quarter. Invesco Ltd. lifted its stake in shares of Immersion by 16.2% in the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker's stock valued at $163,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Caitlin John LLC bought a new position in shares of Immersion in the 2nd quarter valued at $27,000. 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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