Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Immersion Co. (NASDAQ:IMMR)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 60.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,069 shares of the software maker’s stock after purchasing an additional 25,181 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Immersion were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Immersion by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after purchasing an additional 2,416 shares in the last quarter. Franklin Resources Inc. grew its stake in Immersion by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock valued at $447,000 after acquiring an additional 2,879 shares during the period. Farther Finance Advisors LLC increased its holdings in Immersion by 29,900.0% in 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. Quartz Partners LLC lifted its holdings in Immersion by 4.8% during the fourth quarter. Quartz Partners LLC now owns 77,546 shares of the software maker’s stock valued at $677,000 after purchasing an additional 3,570 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Immersion by 68.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 12,042 shares of the software maker’s stock valued at $106,000 after buying an additional 4,897 shares in the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

Immersion Price Performance

Shares of IMMR stock opened at $7.59 on Thursday. The firm’s 50-day moving average is $8.08 and its two-hundred day moving average is $8.50. Immersion Co. has a 12 month low of $7.06 and a 12 month high of $13.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The company has a market capitalization of $245.89 million, a PE ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. The firm had revenue of $474.76 million for the quarter, compared to analysts’ expectations of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. Analysts predict that Immersion Co. will post 1.57 earnings per share for the current year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is 6.47%.

Analyst Ratings Changes

A number of research firms recently weighed in on IMMR. Craig Hallum lowered their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. BWS Financial restated a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Thursday, March 13th.

Insider Activity at Immersion

In related news, insider William C. Martin purchased 27,150 shares of Immersion stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $7.55 per share, with a total value of $204,982.50. Following the purchase, the insider now owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. The trade was a 1.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $8.49 per share, with a total value of $502,149.54. Following the transaction, the director now directly owns 11,065,848 shares in the company, valued at $93,949,049.52. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 128,934 shares of company stock worth $1,027,343. Company insiders own 5.50% of the company’s stock.

Immersion Profile

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.