Key Points
- CEO Eric Singer bought 41,000 Immersion shares at an average price of $7.14, investing $292,740 and increasing his direct stake by 1.87% to 2.23 million shares.
- Immersion reported quarterly earnings of $0.17 per share, exceeding the $0.06 consensus estimate. The company also declared a quarterly dividend of $0.075, representing a 4.2% yield.
- Shares opened at $7.14, compared with a 52-week range of $5.25 to $8.05. Analysts give the stock a consensus “Hold” rating with a $13.50 price target.
Immersion Corporation (NASDAQ:IMMR - Get Free Report) CEO Eric Singer purchased 41,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 7th. The shares were acquired at an average cost of $7.14 per share, with a total value of $292,740.00. Following the completion of the purchase, the chief executive officer directly owned 2,230,664 shares in the company, valued at $15,926,940.96. The trade was a 1.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Immersion Stock Performance
Shares of Immersion stock opened at $7.14 on Friday. The stock's fifty day moving average is $7.46 and its two-hundred day moving average is $6.76. The company has a market capitalization of $237.12 million, a PE ratio of 21.00 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.22. Immersion Corporation has a 52 week low of $5.25 and a 52 week high of $8.05.
Immersion (NASDAQ:IMMR - Get Free Report) last released its earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.11. The business had revenue of $294.40 million during the quarter, compared to the consensus estimate of $3.43 million. Immersion had a return on equity of 1.83% and a net margin of 0.60%. As a group, analysts expect that Immersion Corporation will post 0.26 earnings per share for the current year.
Immersion Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 16th. Immersion's dividend payout ratio (DPR) is currently 88.24%.
Hedge Funds Weigh In On Immersion
A number of hedge funds and other institutional investors have recently made changes to their positions in IMMR. Caitlin John LLC purchased a new position in shares of Immersion during the second quarter valued at $27,000. Strs Ohio bought a new stake in shares of Immersion in the first quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in Immersion by 134.4% in the third quarter. GAMMA Investing LLC now owns 3,834 shares of the software maker's stock worth $28,000 after acquiring an additional 2,198 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Immersion in the second quarter worth about $41,000. Finally, Optiver Holding B.V. grew its holdings in Immersion by 1,681.2% during the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker's stock worth $43,000 after acquiring an additional 7,414 shares in the last quarter. Institutional investors own 60.57% of the company's stock.
Wall Street Analyst Weigh In
IMMR has been the subject of several research reports. BWS Financial reissued a "buy" rating and issued a $13.50 price objective on shares of Immersion in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Immersion from a "sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Immersion from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.50.
View Our Latest Stock Analysis on IMMR
Immersion Company Profile
(
Get Free Report)
Immersion Corporation is a technology company that develops and licenses haptic technologies, which enable electronic devices to provide tactile feedback such as vibrations, textures and other touch sensations. Its technologies are designed to make digital interactions more intuitive and immersive.
The company's haptic solutions and intellectual property are used across a range of markets, including smartphones and other consumer electronics, gaming systems and controllers, automotive interfaces, medical equipment and industrial devices.
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