Immersion’s (IMMR) “Buy” Rating Reaffirmed at BWS Financial

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

Separately, Craig Hallum dropped their price objective on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday.

Immersion Stock Performance

NASDAQ IMMR opened at $7.60 on Thursday. Immersion has a 1-year low of $7.06 and a 1-year high of $13.94. The company has a market capitalization of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55. The business has a 50 day moving average price of $8.31 and a 200 day moving average price of $8.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The firm had revenue of $474.76 million during the quarter, compared to the consensus estimate of $9.45 million. Sell-side analysts expect that Immersion will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, April 14th. Immersion’s payout ratio is 4.64%.

Insiders Place Their Bets

In related news, Director Toro 18 Holdings Llc purchased 59,146 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $8.49 per share, with a total value of $502,149.54. Following the completion of the transaction, the director now owns 11,065,848 shares of the company’s stock, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immersion

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in shares of Immersion by 29,900.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock worth $26,000 after purchasing an additional 2,990 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Immersion during the fourth quarter worth $51,000. Quarry LP acquired a new stake in shares of Immersion during the fourth quarter worth $54,000. AlphaQuest LLC acquired a new stake in shares of Immersion during the fourth quarter worth $61,000. Finally, Legal & General Group Plc boosted its holdings in shares of Immersion by 44.2% during the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock worth $69,000 after purchasing an additional 2,425 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.