Immersion (NASDAQ:IMMR) Rating Reiterated by BWS Financial

BWS Financial restated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $11.00 price objective on the software maker’s stock.

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

Immersion Stock Performance

NASDAQ IMMR opened at $9.74 on Thursday. The business has a 50 day simple moving average of $7.79 and a 200 day simple moving average of $7.20. Immersion has a 52-week low of $5.94 and a 52-week high of $9.97. The stock has a market cap of $310.22 million, a price-to-earnings ratio of 7.11 and a beta of 1.46.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.30. The company had revenue of $10.38 million during the quarter, compared to analysts’ expectations of $9.25 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 declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be paid a dividend of $0.045 per share. The ex-dividend date is Monday, July 8th. This represents a $0.18 annualized dividend and a dividend yield of 1.85%. Immersion’s dividend payout ratio is currently 13.14%.

Insider Transactions at Immersion

In related news, Director Elias Nader sold 13,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total value of $106,860.00. Following the completion of the transaction, the director now directly owns 29,266 shares of the company’s stock, valued at $240,566.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

Several hedge funds and other institutional investors have recently made changes to their positions in IMMR. LSV Asset Management grew its stake in shares of Immersion by 16.9% in the third quarter. LSV Asset Management now owns 1,637,198 shares of the software maker’s stock valued at $10,822,000 after buying an additional 237,119 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Immersion in the third quarter valued at $825,000. Quantbot Technologies LP bought a new position in shares of Immersion in the third quarter valued at $41,000. Boston Partners grew its stake in shares of Immersion by 16.4% in the third quarter. Boston Partners now owns 71,338 shares of the software maker’s stock valued at $472,000 after buying an additional 10,059 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Immersion by 130.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 103,077 shares of the software maker’s stock valued at $681,000 after purchasing an additional 58,273 shares during the last quarter. 60.57% of the stock is owned by institutional investors.

About Immersion

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.