Immersion (NASDAQ:IMMR) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Immersion (NASDAQ:IMMR) from a sell rating to a hold rating in a research note published on Tuesday morning.

Several other research firms have also weighed in on IMMR. Zacks Research upgraded shares of Immersion to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Immersion Stock Down 1.0%

Shares of Immersion stock opened at $7.66 on Tuesday. The business has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $6.36. Immersion has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The firm has a market cap of $254.24 million, a price-to-earnings ratio of 54.71 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last released its earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. Analysts anticipate that Immersion will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, July 20th. Immersion’s payout ratio is presently 214.29%.

Institutional Investors Weigh In On Immersion

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of Immersion during the first quarter valued at $27,000. Russell Investments Group Ltd. increased its stake in Immersion by 85.5% in the 3rd 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 in the last quarter. Optiver Holding B.V. increased its stake in Immersion by 1,681.2% in the 1st 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 raised its holdings in Immersion by 677.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after buying an additional 6,743 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Immersion during the 2nd quarter worth about $80,000. 60.57% of the stock is owned by institutional investors and hedge funds.

About Immersion

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.