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

BWS Financial restated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research note released on Monday, Benzinga reports. The firm currently has a $11.00 price objective on the software maker’s stock.

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

Immersion Stock Performance

NASDAQ IMMR opened at $9.46 on Monday. The company has a market capitalization of $301.30 million, a P/E ratio of 6.91 and a beta of 1.50. Immersion has a one year low of $5.94 and a one year high of $11.04. The stock has a 50 day moving average price of $9.18 and a 200-day moving average price of $7.85.

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

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be issued a dividend of $0.045 per share. The ex-dividend date is Monday, July 8th. This represents a $0.18 annualized dividend and a yield of 1.90%. Immersion’s payout ratio is presently 13.14%.

Insider Activity at Immersion

In related news, CFO J Michael Dodson sold 4,947 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $10.68, for a total transaction of $52,833.96. Following the sale, the chief financial officer now owns 45,053 shares in the company, valued at approximately $481,166.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Immersion

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Immersion by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,892,282 shares of the software maker’s stock valued at $14,154,000 after buying an additional 16,287 shares during the period. LSV Asset Management increased its stake in Immersion by 2.0% in the fourth quarter. LSV Asset Management now owns 1,669,267 shares of the software maker’s stock worth $11,785,000 after purchasing an additional 32,069 shares during the period. Russell Investments Group Ltd. increased its stake in Immersion by 2.1% in the first quarter. Russell Investments Group Ltd. now owns 240,023 shares of the software maker’s stock worth $1,795,000 after purchasing an additional 4,978 shares during the period. Los Angeles Capital Management LLC increased its stake in Immersion by 80.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 224,598 shares of the software maker’s stock worth $1,586,000 after purchasing an additional 99,853 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Immersion in the first quarter worth $1,285,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.