Immersion (NASDAQ:IMMR) Releases Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Immersion (NASDAQ:IMMR) released its earnings results on Monday. The software maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.44, FiscalAI reports. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The company had revenue of $294.40 million for the quarter, compared to analyst estimates of $3.43 million.

Immersion Price Performance

Shares of NASDAQ IMMR opened at $7.40 on Monday. The company has a current ratio of 2.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. The company has a market cap of $245.61 million, a price-to-earnings ratio of 52.86 and a beta of 1.02. Immersion has a 12 month low of $5.25 and a 12 month high of $8.05. The stock has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $6.61.

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 given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, July 20th. Immersion’s payout ratio is currently 214.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BWS Financial reaffirmed a “buy” rating and set 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 report on Tuesday, July 28th. Finally, Weiss Ratings cut shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Insider Buying and Selling at Immersion

In related news, insider Toro 18 Holdings Llc sold 105,541 shares of Immersion stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $4.63, for a total transaction of $488,654.83. Following the sale, the insider directly owned 1,101,832 shares of the company’s stock, valued at approximately $5,101,482.16. The trade was a 8.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 442,815 shares of company stock valued at $2,201,304. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Immersion

Several hedge funds have recently modified their holdings of IMMR. Virtu Financial LLC bought a new stake in shares of Immersion during the fourth quarter worth about $84,000. Invesco Ltd. raised its stake in Immersion by 14.1% during the fourth quarter. Invesco Ltd. now owns 25,379 shares of the software maker’s stock worth $173,000 after buying an additional 3,127 shares during the last quarter. Odyssean LLC bought a new position in shares of Immersion in the 4th quarter worth about $101,000. Engineers Gate Manager LP lifted its stake in shares of Immersion by 46.3% in the 4th quarter. Engineers Gate Manager LP now owns 23,126 shares of the software maker’s stock valued at $157,000 after purchasing an additional 7,316 shares during the period. Finally, Atom Investors LP acquired a new position in shares of Immersion in the 4th quarter valued at about $536,000. Institutional investors and hedge funds 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.