Immersion (NASDAQ:IMMR) Stock Crosses Above 200 Day Moving Average – What’s Next?

Immersion Corporation (NASDAQ:IMMR) passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IMMR shares. Zacks Research raised Immersion to a “hold” rating in a research report on Friday, May 8th. Wall Street Zen raised Immersion from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings downgraded Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Immersion Stock Up 3.7%

The stock’s 50-day moving average price is $6.52 and its two-hundred day moving average price is $6.35. The stock has a market capitalization of $223.43 million, a P/E ratio of 337.50 and a beta of 1.02. 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 (NASDAQ:IMMR) last posted its quarterly earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.The company had revenue of $518.49 million during the quarter. As a group, research analysts expect that Immersion Corporation will post -0.04 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be paid a $0.075 dividend. The ex-dividend date is Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.4%. Immersion’s payout ratio is presently 1,500.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMMR. Strs Ohio bought a new stake in Immersion in the 1st quarter valued at about $27,000. Russell Investments Group Ltd. boosted its position in Immersion by 85.5% during the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after purchasing an additional 2,041 shares during the period. Optiver Holding B.V. increased its stake in shares of Immersion by 1,681.2% in the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after purchasing an additional 7,414 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Immersion by 677.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after purchasing an additional 6,743 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Immersion in the second quarter worth about $80,000. Institutional investors own 60.57% of the company’s stock.

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.