Immersion (NASDAQ:IMMR) Announces Earnings Results

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

Immersion Stock Down 1.2%

NASDAQ:IMMR opened at $6.52 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.83 and a quick ratio of 1.16. The firm’s 50-day moving average price is $6.56 and its 200-day moving average price is $6.34. The company has a market capitalization of $215.81 million, a PE ratio of 46.57 and a beta of 1.02. Immersion has a 1-year low of $5.25 and a 1-year high of $7.51.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 20th will be given a $0.075 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.6%. Immersion’s dividend payout ratio is currently 214.29%.

Institutional Investors Weigh In On Immersion

Several hedge funds have recently bought and sold shares of IMMR. Millennium Management LLC increased its stake 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 valued at $3,940,000 after purchasing an additional 294,393 shares in the last quarter. Numerai GP LLC grew its stake in shares of Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after buying an additional 168,294 shares during the last quarter. Jump Financial LLC increased its position in Immersion by 439.8% during the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock valued at $998,000 after buying an additional 103,176 shares in the last quarter. Squarepoint Ops LLC increased its position in Immersion by 49.9% during the 3rd quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock valued at $2,079,000 after buying an additional 94,243 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Immersion by 139.0% during the third quarter. BNP Paribas Financial Markets now owns 159,481 shares of the software maker’s stock valued at $1,171,000 after buying an additional 92,749 shares during the last quarter. Institutional investors own 60.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IMMR shares. Weiss Ratings lowered shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Zacks Research raised shares of Immersion to a “hold” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut Immersion from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Immersion has a consensus rating of “Hold” and an average price target of $13.50.

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.