Immersion (NASDAQ:IMMR) Receives “Buy” Rating from BWS Financial

BWS Financial reissued their buy rating on shares of Immersion (NASDAQ:IMMR) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $13.50 target price on the software maker’s stock.

Several other research firms also recently commented on IMMR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Immersion in a research note on Wednesday, October 8th. Wall Street Zen downgraded Immersion from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Immersion Stock Down 0.6%

Shares of NASDAQ IMMR opened at $7.14 on Wednesday. The stock has a market cap of $231.34 million, a PE ratio of 2.57 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.25. Immersion has a 52-week low of $6.47 and a 52-week high of $10.72. The business has a 50-day moving average price of $7.09 and a 200 day moving average price of $7.32.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 20th will be paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, October 20th. Immersion’s dividend payout ratio is 6.47%.

Hedge Funds Weigh In On Immersion

A number of large investors have recently modified their holdings of IMMR. GAMMA Investing LLC raised its stake in shares of Immersion by 509.9% during the 1st quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker’s stock worth $460,000 after buying an additional 5,089 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Immersion by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 359,868 shares of the software maker’s stock worth $2,728,000 after buying an additional 1,628 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Immersion by 47.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,754 shares of the software maker’s stock worth $135,000 after buying an additional 5,712 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Immersion during the 1st quarter worth approximately $167,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Immersion during the 1st quarter worth approximately $304,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Immersion Company Profile

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.