Key Points
- Major shareholder Toro 18 Holdings sold 200,000 Immersion shares at an average price of $5.22, generating $1.04 million and reducing its position by 12.95% to 1.34 million shares.
- Immersion reported quarterly EPS of $0.12, beating the $0.05 analyst consensus, while revenue of $270 million exceeded estimates of $230 million. The company also pays a quarterly dividend of $0.075, equivalent to a 4.0% annualized yield.
- Analysts maintain an overall “Hold” rating with a $13.50 consensus price target; one firm rates the stock “Buy” and two rate it “Hold.” Institutional investors own 60.57% of the company.
Immersion Corporation (NASDAQ:IMMR - Get Free Report) major shareholder Toro 18 Holdings Llc sold 200,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 1,344,647 shares of the company's stock, valued at $7,019,057.34. This trade represents a 12.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Immersion Trading Down 0.7%
Shares of NASDAQ IMMR opened at $7.43 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. The business's 50 day moving average price is $6.87 and its 200-day moving average price is $6.44. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The company has a market cap of $246.60 million, a price-to-earnings ratio of 53.07 and a beta of 1.02.
Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The firm had revenue of $270.00 million during the quarter, compared to analyst estimates of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. On average, sell-side analysts expect that Immersion Corporation will post 0.26 earnings per share for the current year.
Immersion Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 20th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, July 20th. Immersion's dividend payout ratio (DPR) is currently 214.29%.
Institutional Trading of Immersion
Several institutional investors and hedge funds have recently made changes to their positions in IMMR. BlackRock Inc. bought a new position in Immersion during the 2nd quarter worth about $16,527,000. Bank of New York Mellon Corp bought a new stake in shares of Immersion in the 2nd quarter valued at about $2,128,000. Millennium Management LLC raised its holdings in shares of Immersion by 121.5% in the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker's stock valued at $3,940,000 after purchasing an additional 294,393 shares in the last quarter. Kanen Wealth Management LLC lifted its position in shares of Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker's stock worth $3,871,000 after purchasing an additional 239,318 shares during the period. Finally, Numerai GP LLC lifted its position in shares of Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker's stock worth $1,388,000 after purchasing an additional 168,294 shares during the period. 60.57% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on IMMR shares. Zacks Research raised shares of Immersion to a "hold" rating in a research report on Friday, May 8th. BWS Financial reaffirmed a "buy" rating and set a $13.50 target price on shares of Immersion in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Immersion from a "sell" rating to a "hold" rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Immersion currently has an average rating of "Hold" and a consensus price target of $13.50.
Check Out Our Latest Stock Report on IMMR
About Immersion
(
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.
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