Immersion (NASDAQ:IMMR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Immersion (NASDAQ:IMMR) from a sell rating to a hold rating in a report released on Tuesday morning.

A number of other equities research analysts have also recently commented on IMMR. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Weiss Ratings lowered Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.50.

Immersion Stock Performance

Shares of Immersion stock opened at $7.41 on Tuesday. The firm’s fifty day simple moving average is $6.68 and its 200-day simple moving average is $6.37. The stock has a market capitalization of $245.94 million, a price-to-earnings ratio of 52.93 and a beta of 1.02. Immersion has a 12 month low of $5.25 and a 12 month high of $8.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.16.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The firm had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million. As a group, equities analysts forecast that Immersion will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 20th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.0%. Immersion’s dividend payout ratio (DPR) is currently 214.29%.

Hedge Funds Weigh In On Immersion

Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its position in Immersion by 2.1% during the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock worth $480,000 after buying an additional 1,819 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Immersion by 85.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after acquiring an additional 2,041 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Immersion by 5.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 44,800 shares of the software maker’s stock valued at $329,000 after acquiring an additional 2,500 shares during the period. Invesco Ltd. boosted its stake in shares of Immersion by 16.2% during the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Immersion during the 1st quarter worth approximately $27,000. 60.57% of the stock is owned by institutional investors and hedge funds.

About Immersion

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.