Immersion (NASDAQ:IMMR) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Immersion (NASDAQ:IMMR) posted its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.11, Zacks reports. The firm had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $3.43 million. Immersion had a net margin of 0.60% and a return on equity of 1.83%.

Immersion Stock Performance

IMMR opened at $7.26 on Thursday. The stock has a market cap of $241.10 million, a P/E ratio of 21.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.14 and a quick ratio of 1.16. The stock’s 50 day simple moving average is $7.46 and its 200 day simple moving average is $6.75. Immersion has a 1-year low of $5.25 and a 1-year high of $8.05.

Immersion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.30 annualized dividend and a dividend yield of 4.1%. Immersion’s payout ratio is 88.24%.

Insiders Place Their Bets

In related news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of Immersion stock in a transaction on Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the completion of the transaction, the insider directly owned 1,344,647 shares of the company’s stock, valued at approximately $7,019,057.34. The trade was a 12.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 442,815 shares of company stock valued at $2,201,304. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BWS Financial reissued a “buy” rating and issued a $13.50 target price on shares of Immersion in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

Immersion Company Profile

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.