Q2 2024 EPS Estimates for Immersion Co. (NASDAQ:IMMR) Lifted by BWS Financial

Immersion Co. (NASDAQ:IMMR) – Stock analysts at BWS Financial boosted their Q2 2024 earnings per share estimates for shares of Immersion in a research note issued to investors on Monday, July 1st. BWS Financial analyst H. Khorsand now forecasts that the software maker will post earnings per share of $0.50 for the quarter, up from their prior forecast of $0.15. BWS Financial has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Immersion’s current full-year earnings is $1.17 per share. BWS Financial also issued estimates for Immersion’s FY2024 earnings at $1.54 EPS.

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

Immersion Stock Down 0.3 %

IMMR stock opened at $9.51 on Thursday. The firm has a market cap of $302.89 million, a P/E ratio of 6.94 and a beta of 1.50. The company’s 50-day moving average price is $9.32 and its two-hundred day moving average price is $7.89. Immersion has a 12 month low of $5.94 and a 12 month high of $11.04.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. Immersion had a return on equity of 24.50% and a net margin of 62.74%. The company had revenue of $43.85 million for the quarter, compared to analysts’ expectations of $24.94 million.

Immersion Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO J Michael Dodson sold 4,947 shares of the firm’s stock in a transaction that occurred on 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 directly owns 45,053 shares in the company, valued at approximately $481,166.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in Immersion by 288.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after acquiring an additional 3,076 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Immersion in the first quarter worth $72,000. EMC Capital Management acquired a new stake in Immersion in the first quarter valued at $120,000. Assenagon Asset Management S.A. bought a new position in Immersion during the 1st quarter worth $134,000. Finally, Teza Capital Management LLC acquired a new position in Immersion during the 3rd quarter worth about $142,000. 60.57% of the stock is currently 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.