Immersion (NASDAQ:IMMR) Announces Quarterly Earnings Results

Immersion (NASDAQ:IMMR) issued its quarterly earnings data on Wednesday. The software maker reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18), Zacks reports. The firm had revenue of $292.03 million for the quarter, compared to analyst estimates of $425.00 million.

Immersion Price Performance

IMMR stock traded down $0.34 during midday trading on Friday, hitting $5.59. 104,025 shares of the stock traded hands, compared to its average volume of 348,918. The firm has a market cap of $183.96 million, a P/E ratio of 2.03 and a beta of 0.89. The stock’s fifty day simple moving average is $6.32 and its 200-day simple moving average is $6.64. Immersion has a 1-year low of $5.65 and a 1-year high of $8.15.

Institutional Investors Weigh In On Immersion

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock valued at $466,000 after acquiring an additional 44,112 shares during the period. XTX Topco Ltd acquired a new position in Immersion in the 2nd quarter worth about $80,000. Quantbot Technologies LP boosted its position in Immersion by 212.3% during the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after purchasing an additional 30,703 shares in the last quarter. Invesco Ltd. grew its holdings in Immersion by 16.2% in the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock valued at $163,000 after purchasing an additional 2,886 shares during the period. Finally, Jump Financial LLC grew its holdings in Immersion by 439.8% in the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock valued at $998,000 after purchasing an additional 103,176 shares during the period. 60.57% of the stock is owned by hedge funds and other institutional investors.

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.