Immersion (NASDAQ:IMMR) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Immersion Corporation (NASDAQ:IMMR)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $6.72 and traded as high as $7.32. Immersion shares last traded at $7.23, with a volume of 219,716 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IMMR shares. Weiss Ratings raised shares of Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. BWS Financial restated a “buy” rating and issued a $13.50 price target on shares of Immersion in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Immersion presently has a consensus rating of “Hold” and an average target price of $13.50.

Immersion Price Performance

The firm has a market cap of $245.92 million, a price-to-earnings ratio of 21.78 and a beta of 1.01. The company’s fifty day moving average is $7.46 and its 200 day moving average is $6.72. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.22.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. Immersion had a net margin of 0.60% and a return on equity of 1.83%. The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $3.43 million. On average, equities research analysts predict that Immersion Corporation will post 0.26 EPS for the current year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.30 annualized dividend and a yield of 4.1%. Immersion’s dividend payout ratio is 88.24%.

Insiders Place Their Bets

In other news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $5.22, for a total value of $1,044,000.00. Following the completion of the sale, the insider owned 1,344,647 shares of the company’s stock, valued at approximately $7,019,057.34. This represents a 12.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 442,815 shares of company stock valued at $2,201,304 in the last ninety days. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its holdings in shares of Immersion by 34.4% during the second quarter. Squarepoint Ops LLC now owns 549,689 shares of the software maker’s stock worth $3,721,000 after acquiring an additional 140,741 shares during the period. BlackRock Inc. bought a new stake in shares of Immersion in the 2nd quarter valued at about $16,527,000. Bank of New York Mellon Corp acquired a new position in shares of Immersion in the 2nd quarter worth approximately $2,128,000. Kanen Wealth Management LLC increased its position in shares of Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after buying an additional 239,318 shares during the period. Finally, Callan Family Office LLC bought a new position in Immersion during the second quarter worth $458,000. Institutional investors own 60.57% of the company’s stock.

Immersion Company Profile

Immersion Corporation (NASDAQ: IMMR) develops and licenses haptic technologies that enable electronic devices to communicate through tactile sensations such as vibration, pressure, and motion. Its intellectual property and software are designed to help manufacturers create more responsive and immersive user experiences.

The company’s haptic solutions are used across a range of markets, including smartphones and other mobile devices, automotive systems, gaming controllers, personal computers, consumer electronics, and medical equipment.