Key Points
- Insider selling: Toro 18 Holdings LLC sold 105,541 Immersion shares at an average price of $4.63, generating approximately $488,655. The sale reduced its ownership by 8.74%, leaving it with 1.10 million shares.
- Financial performance: Immersion reported quarterly EPS of $0.12, beating estimates of $0.05, while revenue reached $270 million versus expectations of $230 million. The company also pays a $0.075 quarterly dividend, equivalent to a 4.1% annual yield.
- Analyst view: Coverage remains mixed, with one Buy and two Hold ratings; the consensus rating is Hold with a $13.50 price target. Institutional investors own approximately 60.57% of the company.
Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 24,459 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $4.66, for a total value of $113,978.94. Following the sale, the insider directly owned 1,207,373 shares of the company's stock, valued at $5,626,358.18. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Toro 18 Holdings Llc also recently made the following trade(s):
- On Friday, September 11th, Toro 18 Holdings Llc sold 105,541 shares of Immersion stock. The stock was sold at an average price of $4.63, for a total value of $488,654.83.
- On Thursday, September 3rd, Toro 18 Holdings Llc sold 3,900 shares of Immersion stock. The stock was sold at an average price of $4.55, for a total value of $17,745.00.
- 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 value of $193,707.59.
- On Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The shares were 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 stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00.
Immersion Price Performance
NASDAQ IMMR opened at $7.40 on Friday. Immersion Corporation has a 12 month low of $5.25 and a 12 month high of $8.05. The stock has a market cap of $245.63 million, a price-to-earnings ratio of 52.86 and a beta of 1.02. The company's 50 day moving average is $7.28 and its two-hundred day moving average is $6.61. 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 posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 0.26% and a return on equity of 0.80%. As a group, research analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current year.
Immersion Announces Dividend
The company also recently disclosed 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. This represents a $0.30 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, July 20th. Immersion's dividend payout ratio (DPR) is presently 214.29%.
Analyst Ratings Changes
Several brokerages recently weighed in on IMMR. Weiss Ratings downgraded shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. BWS Financial reissued a "buy" rating and set a $13.50 price target on shares of Immersion in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded Immersion from a "sell" rating to a "hold" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.50.
View Our Latest Stock Report on Immersion
Institutional Investors Weigh In On Immersion
A number of institutional investors have recently added to or reduced their stakes in IMMR. BlackRock Inc. bought a new stake in shares of Immersion in the second quarter worth about $16,527,000. Bank of New York Mellon Corp purchased a new position in Immersion during the 2nd quarter valued at approximately $2,128,000. Millennium Management LLC increased 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 acquiring an additional 294,393 shares during the last quarter. Kanen Wealth Management LLC increased its stake in 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 acquiring an additional 239,318 shares during the last quarter. Finally, Numerai GP LLC raised its holdings in shares of Immersion by 810.5% during the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker's stock worth $1,388,000 after acquiring an additional 168,294 shares in the last quarter. 60.57% of the stock is owned by hedge funds and other institutional investors.
Immersion Company Profile
(
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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