Immersion (NASDAQ:IMMR) Rating Reiterated by BWS Financial

BWS Financial restated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $11.00 target price on the software maker’s stock. BWS Financial also issued estimates for Immersion’s Q2 2024 earnings at $0.50 EPS, Q3 2024 earnings at $0.22 EPS and FY2024 earnings at $1.54 EPS.

Separately, StockNews.com upgraded shares of Immersion from a hold rating to a buy rating in a research note on Friday, May 17th.

Immersion Trading Down 0.3 %

Shares of Immersion stock opened at $9.51 on Monday. The company has a market capitalization of $302.89 million, a P/E ratio of 6.94 and a beta of 1.50. The stock has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $7.89. Immersion has a 12-month low of $5.94 and a 12-month high of $11.04.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $43.85 million for the quarter, compared to the consensus estimate of $24.94 million. Immersion had a net margin of 62.74% and a return on equity of 24.50%. On average, analysts predict that Immersion will post 1.17 EPS for the current year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be paid a $0.045 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.18 dividend on an annualized basis and a yield of 1.89%. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Insider Activity

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of Immersion stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $10.68, for a total value of $52,833.96. Following the sale, the chief financial officer now owns 45,053 shares of the company’s stock, valued at $481,166.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

Several institutional investors and hedge funds have recently bought and sold shares of IMMR. EMC Capital Management purchased a new position in shares of Immersion during the 1st quarter valued at $120,000. Price T Rowe Associates Inc. MD raised its stake in Immersion by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock valued at $218,000 after acquiring an additional 1,140 shares during the period. Lazard Asset Management LLC purchased a new stake in Immersion during the first quarter valued at about $72,000. Quadrature Capital Ltd bought a new position in Immersion during the first quarter worth about $250,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Immersion in the first quarter worth about $158,000. 60.57% of the stock is owned by institutional investors.

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.