Immersion (NASDAQ:IMMR) Issues Earnings Results, Beats Expectations By $0.07 EPS

Immersion (NASDAQ:IMMR) posted its quarterly earnings data on Friday. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07, FiscalAI reports. The company had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%.

Immersion Trading Down 1.2%

Shares of NASDAQ IMMR traded down $0.08 during trading hours on Friday, reaching $6.52. The stock had a trading volume of 342,828 shares, compared to its average volume of 557,282. Immersion has a 52-week low of $5.25 and a 52-week high of $7.51. The firm has a market cap of $215.81 million, a price-to-earnings ratio of 326.00 and a beta of 1.02. The business’s fifty day moving average price is $6.56 and its two-hundred day moving average price is $6.34. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, July 20th. Immersion’s payout ratio is currently 1,500.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings cut Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Zacks Research upgraded Immersion to a “hold” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Immersion from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Immersion currently has a consensus rating of “Hold” and an average target price of $13.50.

Institutional Investors Weigh In On Immersion

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Immersion during the 4th quarter worth $84,000. Invesco Ltd. lifted its stake in Immersion by 14.1% in the fourth quarter. Invesco Ltd. now owns 25,379 shares of the software maker’s stock worth $173,000 after acquiring an additional 3,127 shares during the period. Odyssean LLC bought a new position in Immersion during the 4th quarter worth about $101,000. Engineers Gate Manager LP increased 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 valued at $157,000 after purchasing an additional 7,316 shares during the period. Finally, Atom Investors LP purchased a new position in Immersion during the 4th quarter valued at about $536,000. 60.57% of the stock is owned by institutional investors.

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.