Key Points
- Toro 18 Holdings LLC sold 42,019 Immersion shares at an average price of $4.61, generating $193,707.59 and reducing its ownership by 3.29% to 1,235,732 shares. The sale followed several other disposals totaling hundreds of thousands of shares.
- Immersion reported quarterly revenue of $270 million and earnings of $0.12 per share, beating analyst expectations of $230 million and $0.05, respectively.
- The stock opened at $7.71, with analysts maintaining an overall “Hold” rating and an average price target of $13.50; the company also pays a quarterly dividend of $0.075, yielding about 3.9% annually.
Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 3,900 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.55, for a total value of $17,745.00. Following the completion of the transaction, the insider directly owned 1,231,832 shares of the company's stock, valued at $5,604,835.60. This represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Toro 18 Holdings Llc also recently made the following trade(s):
- On Wednesday, September 2nd, Toro 18 Holdings Llc sold 42,019 shares of Immersion stock. The shares were sold at an average price of $4.61, for a total transaction of $193,707.59.
- On Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The stock was sold at an average price of $4.83, for a total value of $40,089.00.
- On Tuesday, August 18th, Toro 18 Holdings Llc sold 15,000 shares of Immersion stock. The shares were sold at an average price of $4.95, for a total value of $74,250.00.
- On Monday, August 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The stock was sold at an average price of $5.25, for a total transaction of $228,879.00.
- On Monday, August 10th, Toro 18 Holdings Llc sold 200,000 shares of Immersion stock. The shares were sold at an average price of $5.22, for a total transaction of $1,044,000.00.
Immersion Stock Up 2.0%
NASDAQ:IMMR opened at $7.71 on Friday. The firm has a market capitalization of $255.89 million, a PE ratio of 55.07 and a beta of 1.02. The stock has a 50 day moving average of $7.21 and a 200-day moving average of $6.56. Immersion Corporation has a 52 week low of $5.25 and a 52 week high of $8.05. The company has a current ratio of 2.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13.
Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The firm had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Analysts predict that Immersion Corporation will post 0.26 EPS for the current year.
Immersion Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were given a dividend of $0.075 per share. The ex-dividend date was Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 3.9%. Immersion's dividend payout ratio is currently 214.29%.
Institutional Investors Weigh In On Immersion
A number of institutional investors and hedge funds have recently modified their holdings of IMMR. BlackRock Inc. purchased a new stake in Immersion during the second quarter valued at about $16,527,000. Bank of New York Mellon Corp purchased a new stake in shares of Immersion in the 2nd quarter valued at approximately $2,128,000. Millennium Management LLC boosted its stake in Immersion by 121.5% in the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker's stock worth $3,940,000 after purchasing an additional 294,393 shares during the period. Kanen Wealth Management LLC grew its position in Immersion by 51.0% during 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 in the last quarter. Finally, Numerai GP LLC grew its holdings in shares of Immersion by 810.5% during the third quarter. Numerai GP LLC now owns 189,059 shares of the software maker's stock valued at $1,388,000 after buying an additional 168,294 shares in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have commented on IMMR. Wall Street Zen upgraded shares of Immersion from a "sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings cut Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Immersion to a "hold" rating in a report on Friday, May 8th. Finally, BWS Financial reissued a "buy" rating and set a $13.50 target price on shares of Immersion in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $13.50.
Get 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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