Immersion (NASDAQ:IMMR) Share Price Crosses Above Two Hundred Day Moving Average – Should You 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 $6.35 and traded as high as $6.83. Immersion shares last traded at $6.75, with a volume of 369,607 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on IMMR. Wall Street Zen lowered Immersion from a “hold” rating to a “sell” rating in a research report on Sunday, June 28th. Zacks Research raised shares of Immersion to a “hold” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Immersion Trading Up 3.7%

The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $6.52 and its two-hundred day simple moving average is $6.35. The company has a market capitalization of $223.43 million, a PE ratio of 337.50 and a beta of 1.02.

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

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, July 20th. Immersion’s dividend payout ratio (DPR) is 1,500.00%.

Hedge Funds Weigh In On Immersion

A number of institutional investors have recently made changes to their positions in the business. Kanen Wealth Management LLC boosted its stake 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 valued at $3,871,000 after buying an additional 239,318 shares during the last quarter. Millennium Management LLC grew its position in shares of Immersion by 121.5% during the third quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after buying an additional 294,393 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Immersion by 20.5% in the second quarter. Qube Research & Technologies Ltd now owns 501,563 shares of the software maker’s stock worth $3,952,000 after buying an additional 85,196 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Immersion by 5.6% in the fourth quarter. Squarepoint Ops LLC now owns 299,224 shares of the software maker’s stock worth $2,035,000 after buying an additional 15,993 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Immersion by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 296,024 shares of the software maker’s stock worth $1,616,000 after buying an additional 16,571 shares during the last quarter. 60.57% of the stock is 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.