Immersion (NASDAQ:IMMR) Issues Earnings Results

Immersion (NASDAQ:IMMR) issued its earnings results on Monday. The software maker reported $0.36 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $650.17 million during the quarter. Immersion had a return on equity of 8.90% and a net margin of 2.18%.

Immersion Stock Performance

IMMR stock traded up $0.18 during midday trading on Wednesday, reaching $5.98. The stock had a trading volume of 115,088 shares, compared to its average volume of 420,844. The stock has a market cap of $196.96 million, a PE ratio of 4.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 2.23. The firm has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $6.50. Immersion has a 52-week low of $5.25 and a 52-week high of $8.15.

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Monday, April 20th will be paid a $0.075 dividend. The ex-dividend date is Monday, April 20th. This represents a $0.30 dividend on an annualized basis and a yield of 5.0%. Immersion’s dividend payout ratio (DPR) is 23.62%.

Institutional Investors Weigh In On Immersion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Immersion by 14.1% during the 4th quarter. Invesco Ltd. now owns 25,379 shares of the software maker’s stock worth $173,000 after purchasing an additional 3,127 shares during the period. Brevan Howard Capital Management LP acquired a new stake in Immersion during the 2nd quarter worth about $169,000. Engineers Gate Manager LP grew its position in Immersion by 46.3% during the 4th quarter. Engineers Gate Manager LP now owns 23,126 shares of the software maker’s stock worth $157,000 after purchasing an additional 7,316 shares during the period. Verition Fund Management LLC acquired a new stake in Immersion during the 4th quarter worth about $139,000. Finally, Aquatic Capital Management LLC acquired a new stake in Immersion during the 3rd quarter worth about $124,000. 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.