Immersion’s (IMMR) “Buy” Rating Reaffirmed at BWS Financial

BWS Financial restated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $13.50 target price on the software maker’s stock.

Immersion Stock Performance

NASDAQ:IMMR opened at $8.30 on Wednesday. Immersion has a 52 week low of $6.54 and a 52 week high of $13.94. The company has a fifty day simple moving average of $8.78 and a two-hundred day simple moving average of $9.16. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The company has a market cap of $267.89 million, a price-to-earnings ratio of 2.96 and a beta of 1.50.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Monday, December 16th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. As a group, equities analysts anticipate that Immersion will post 1.57 earnings per share for the current fiscal year.

Immersion Announces Dividend

The firm also recently declared a None dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were paid a $0.245 dividend. The ex-dividend date of this dividend was Friday, January 10th. Immersion’s dividend payout ratio is presently 6.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMMR. Segall Bryant & Hamill LLC acquired a new stake in shares of Immersion during the 3rd quarter worth about $3,113,000. Kanen Wealth Management LLC increased its stake in Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after purchasing an additional 275,000 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Immersion during the third quarter worth approximately $1,063,000. Sanctuary Advisors LLC purchased a new stake in shares of Immersion during the 3rd quarter worth approximately $740,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Immersion by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock valued at $3,127,000 after buying an additional 51,655 shares in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Company Profile

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.