Immersion (NASDAQ:IMMR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Immersion Corporation (NASDAQ:IMMR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.36 and traded as high as $6.44. Immersion shares last traded at $6.38, with a volume of 279,847 shares traded.

Analysts Set New Price Targets

IMMR has been the topic of a number of recent research reports. Weiss Ratings cut shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Immersion from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.50.

Immersion Stock Up 1.8%

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16. The stock’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $6.36. The stock has a market cap of $211.18 million, a P/E ratio of 319.00 and a beta of 1.03.

Immersion (NASDAQ:IMMR) last issued its earnings results on Friday, May 1st. The software maker reported ($0.31) earnings per share (EPS) for the quarter. The business had revenue of $518.49 million during the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%. On average, research analysts anticipate that Immersion Corporation will post -0.04 earnings per share for the current year.

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Monday, April 20th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, April 20th. Immersion’s payout ratio is 1,500.00%.

Institutional Investors Weigh In On Immersion

A number of hedge funds have recently made changes to their positions in IMMR. Strs Ohio bought a new stake in shares of Immersion during the first quarter valued at approximately $27,000. Caitlin John LLC bought a new stake in shares of Immersion during the third quarter valued at approximately $29,000. Russell Investments Group Ltd. raised its holdings in shares of Immersion by 85.5% during the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after buying an additional 2,041 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Immersion by 677.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock valued at $61,000 after buying an additional 6,743 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Immersion during the second quarter valued at approximately $80,000. Institutional investors own 60.57% of the company’s stock.

Immersion Company Profile

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.