Craig Hallum Cuts Immersion (NASDAQ:IMMR) Price Target to $11.00

Immersion (NASDAQ:IMMR) had its target price cut by Craig Hallum from $14.00 to $11.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Separately, BWS Financial restated a “buy” rating and set a $13.50 price target on shares of Immersion in a report on Wednesday, February 5th.

Immersion Price Performance

Shares of NASDAQ IMMR opened at $7.60 on Thursday. The stock’s 50-day moving average is $8.31 and its two-hundred day moving average is $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 has a 1-year low of $7.06 and a 1-year high of $13.94. The company has a market cap of $245.30 million, a price-to-earnings ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping 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 company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. Analysts forecast that Immersion will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.045 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.37%. Immersion’s payout ratio is currently 4.64%.

Insider Activity

In other Immersion news, Director Toro 18 Holdings Llc acquired 59,146 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the acquisition, the director now owns 11,065,848 shares in the company, valued at $93,949,049.52. The trade was a 0.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Immersion by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker’s stock worth $284,000 after buying an additional 1,604 shares during the last quarter. ProShare Advisors LLC grew its stake in Immersion by 8.5% during the 4th quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock worth $230,000 after buying an additional 2,064 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Immersion by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock worth $775,000 after buying an additional 2,416 shares during the last quarter. Legal & General Group Plc grew its stake in Immersion by 44.2% during the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock worth $69,000 after buying an additional 2,425 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Immersion by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after buying an additional 2,879 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

About Immersion

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.