Immersion (NASDAQ:IMMR) Issues Quarterly Earnings Results

Immersion (NASDAQ:IMMR) issued its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $3.43 million.

Immersion Stock Up 0.9%

NASDAQ:IMMR traded up $0.07 during trading hours on Wednesday, reaching $7.24. The company had a trading volume of 290,270 shares, compared to its average volume of 495,070. Immersion has a twelve month low of $5.25 and a twelve month high of $8.05. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $240.27 million, a price-to-earnings ratio of 21.28 and a beta of 1.01. The business’s 50-day simple moving average is $7.46 and its two-hundred day simple moving average is $6.74.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 16th. Immersion’s dividend payout ratio (DPR) is presently 88.24%.

Insider Buying and Selling at Immersion

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

Analyst Ratings Changes

IMMR has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Immersion from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Wall Street Zen raised 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 price objective on shares of Immersion in a research note 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, Immersion currently has an average rating of “Hold” and a consensus target price of $13.50.

About Immersion

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.