Immersion (NASDAQ:IMMR) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Immersion Corporation (NASDAQ:IMMR) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.36 and traded as high as $6.73. Immersion shares last traded at $6.70, with a volume of 690,863 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on IMMR shares. Wall Street Zen downgraded shares of Immersion from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings cut Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded Immersion to a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Immersion has a consensus rating of “Hold” and a consensus price target of $13.50.

Immersion Price Performance

The firm has a market cap of $221.77 million, a price-to-earnings ratio of 335.00 and a beta of 1.03. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $6.32 and its 200-day moving average price is $6.36.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. The business had revenue of $518.49 million during the quarter. On average, equities research analysts forecast that Immersion Corporation will post -0.04 EPS for the current year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 20th were paid a $0.075 dividend. The ex-dividend date was Monday, April 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.5%. Immersion’s payout ratio is 1,500.00%.

Institutional Trading of Immersion

Several hedge funds have recently modified their holdings of IMMR. Millennium Management LLC boosted its position in shares of Immersion by 121.5% during the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after acquiring an additional 294,393 shares in the last quarter. Kanen Wealth Management LLC raised its position in shares of Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after acquiring an additional 239,318 shares in the last quarter. Numerai GP LLC lifted its stake in Immersion by 810.5% during the third quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after purchasing an additional 168,294 shares during the last quarter. Jump Financial LLC lifted its stake in Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after purchasing an additional 103,176 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Immersion by 49.9% in the third quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock valued at $2,079,000 after purchasing an additional 94,243 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Immersion Company Profile

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.