Immersion (NASDAQ:IMMR) Earns Buy Rating from BWS Financial

BWS Financial reiterated their buy rating on shares of Immersion (NASDAQ:IMMRFree Report) in a research note issued to investors on Monday, Benzinga reports. They currently have a $11.00 target price on the software maker’s stock.

Separately, StockNews.com lowered Immersion from a buy rating to a hold rating in a research note on Thursday, May 9th.

Check Out Our Latest Report on Immersion

Immersion Price Performance

Shares of NASDAQ IMMR opened at $9.34 on Monday. The company has a market cap of $297.48 million, a PE ratio of 6.82 and a beta of 1.46. The company has a 50-day simple moving average of $7.53 and a 200-day simple moving average of $7.05. Immersion has a 12 month low of $5.94 and a 12 month high of $9.36.

Immersion (NASDAQ:IMMRGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.30. Immersion had a return on equity of 24.50% and a net margin of 62.74%. The company had revenue of $10.38 million during the quarter, compared to the consensus estimate of $9.25 million. On average, analysts anticipate that Immersion will post 1.14 EPS for the current year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.93%. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Insider Buying and Selling at Immersion

In other Immersion news, Director Elias Nader sold 13,000 shares of Immersion stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total transaction of $106,860.00. Following the transaction, the director now directly owns 29,266 shares of the company’s stock, valued at $240,566.52. The sale was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immersion

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in Immersion by 288.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock valued at $29,000 after purchasing an additional 3,076 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Immersion during the 3rd quarter valued at about $41,000. Lazard Asset Management LLC acquired a new position in Immersion during the 1st quarter worth approximately $72,000. SG Americas Securities LLC purchased a new position in Immersion in the 3rd quarter worth approximately $93,000. Finally, Brandywine Global Investment Management LLC purchased a new position in Immersion in the 3rd quarter worth approximately $98,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

About Immersion

(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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