Immersion (NASDAQ:IMMR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Immersion Corporation (NASDAQ:IMMRGet Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.35 and traded as high as $6.90. Immersion shares last traded at $6.48, with a volume of 556,684 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Immersion from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Finally, Zacks Research upgraded Immersion to a “hold” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Immersion presently has a consensus rating of “Hold” and an average price target of $13.50.

View Our Latest Stock Analysis on IMMR

Immersion Trading Down 3.8%

The firm has a market capitalization of $210.85 million, a PE ratio of 318.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83. The firm has a fifty day moving average of $6.13 and a 200 day moving average of $6.35.

Immersion (NASDAQ:IMMRGet Free Report) last announced its earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. The company had revenue of $518.49 million for the quarter. Equities research analysts expect that Immersion Corporation will post -0.04 EPS for the current year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 20th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, April 20th. This represents a $0.30 annualized dividend and a yield of 4.7%. Immersion’s payout ratio is currently 1,500.00%.

Institutional Investors Weigh In On Immersion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in Immersion during the 1st quarter worth approximately $27,000. Caitlin John LLC purchased a new stake in Immersion during the 3rd quarter worth approximately $29,000. Russell Investments Group Ltd. increased its holdings 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 last quarter. Optiver Holding B.V. increased its holdings in Immersion by 1,681.2% during the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after purchasing an additional 7,414 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Immersion by 677.7% during the 2nd 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. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Immersion Company Profile

(Get Free Report)

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.

Featured Stories