Key Points
- Toro 18 Holdings sold 43,596 Immersion shares at an average price of $5.25, generating $228,879 and reducing its stake by 3.24% to 1.30 million shares. The shareholder also reported several additional sales, including 200,000 shares on August 10.
- Immersion reported quarterly EPS of $0.12, beating the $0.05 consensus estimate, while revenue of $270 million exceeded expectations of $230 million. The company also pays a quarterly dividend of $0.075 per share, implying a 4.0% annual yield.
- Analyst sentiment remains mixed, with one Buy rating and two Hold ratings; the consensus rating is Hold and the target price is $13.50. Immersion shares opened at $7.59, compared with a 52-week range of $5.25 to $8.05.
Immersion Corporation (NASDAQ:IMMR - Get Free Report) major shareholder Toro 18 Holdings Llc sold 8,300 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $4.83, for a total value of $40,089.00. Following the sale, the insider directly owned 1,277,751 shares in the company, valued at $6,171,537.33. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Toro 18 Holdings Llc also recently made the following trade(s):
- On Tuesday, August 18th, Toro 18 Holdings Llc sold 15,000 shares of Immersion stock. The stock was sold at an average price of $4.95, for a total transaction of $74,250.00.
- On Monday, August 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The shares were sold at an average price of $5.25, for a total value of $228,879.00.
- On Monday, August 10th, Toro 18 Holdings Llc sold 200,000 shares of Immersion stock. The stock was sold at an average price of $5.22, for a total value of $1,044,000.00.
Immersion Trading Up 0.8%
NASDAQ:IMMR opened at $7.59 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. The company has a market cap of $251.91 million, a PE ratio of 54.21 and a beta of 1.02. The firm has a 50-day moving average of $6.97 and a 200-day moving average of $6.47. Immersion Corporation has a one year low of $5.25 and a one year high of $8.05.
Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The business 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%. As a group, equities research 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 dividend on an annualized basis and a dividend yield of 4.0%. Immersion's dividend payout ratio (DPR) is currently 214.29%.
Analyst Ratings Changes
IMMR has been the topic of a number of research analyst reports. Zacks Research upgraded Immersion to a "hold" rating in a research report on Friday, May 8th. BWS Financial reissued a "buy" rating and issued a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Immersion from a "sell" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.50.
Check Out Our Latest Analysis on IMMR
Hedge Funds Weigh In On Immersion
A number of hedge funds have recently modified their holdings of IMMR. Kanen Wealth Management LLC boosted its holdings in Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker's stock valued at $3,871,000 after acquiring an additional 239,318 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Immersion during the second quarter worth about $71,000. Deutsche Bank AG purchased a new position in shares of Immersion in the second quarter valued at approximately $184,000. BlackRock Inc. purchased a new position in shares of Immersion in the second quarter valued at approximately $16,527,000. Finally, Quantbot Technologies LP acquired a new position in shares of Immersion in the second quarter valued at approximately $88,000. 60.57% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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