Immersion (NASDAQ:IMMR) Announces Earnings Results

Immersion (NASDAQ:IMMR) released its quarterly earnings results on Monday. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.11, Zacks reports. Immersion had a net margin of 0.60% and a return on equity of 1.83%. The business had revenue of $294.40 million for the quarter, compared to the consensus estimate of $3.43 million.

Immersion Stock Performance

Immersion stock opened at $7.21 on Friday. The firm’s fifty day moving average price is $7.34 and its 200 day moving average price is $6.65. Immersion has a 12-month low of $5.25 and a 12-month high of $8.05. The company has a market capitalization of $239.44 million, a price-to-earnings ratio of 21.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.14 and a quick ratio of 1.19.

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, October 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.2%. Immersion’s dividend payout ratio (DPR) is currently 88.24%.

Analysts Set New Price Targets

IMMR has been the topic of a number of recent research reports. 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 upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Immersion presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Insider Buying and Selling

In related news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $5.22, for a total value of $1,044,000.00. Following the transaction, the insider owned 1,344,647 shares in the company, valued at approximately $7,019,057.34. This represents a 12.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 442,815 shares of company stock valued at $2,201,304. 10.60% of the stock is currently owned by corporate insiders.

Immersion Company Profile

Immersion Corporation (NASDAQ: IMMR) develops and licenses haptic technologies that enable electronic devices to communicate through tactile sensations such as vibration, pressure, and motion. Its intellectual property and software are designed to help manufacturers create more responsive and immersive user experiences.

The company’s haptic solutions are used across a range of markets, including smartphones and other mobile devices, automotive systems, gaming controllers, personal computers, consumer electronics, and medical equipment.