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

BWS Financial reiterated their buy rating on shares of Immersion (NASDAQ:IMMR) in a report released on Thursday, Benzinga reports. The brokerage currently has a $11.00 price target on the software maker’s stock.

Separately, StockNews.com raised Immersion from a hold rating to a buy rating in a research report on Friday, March 8th.

Immersion Trading Up 0.1 %

IMMR opened at $7.10 on Thursday. Immersion has a 1-year low of $5.94 and a 1-year high of $8.62. The stock has a market capitalization of $225.07 million, a price-to-earnings ratio of 6.89 and a beta of 1.49. The business has a 50 day moving average of $7.28 and a 200-day moving average of $6.92.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, beating 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 return on equity of 19.75% and a net margin of 100.17%. Equities analysts predict that Immersion will post 1.11 EPS for the current year.

Immersion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 12th will be given a $0.045 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.18 annualized dividend and a yield of 2.54%. Immersion’s dividend payout ratio (DPR) is currently 17.48%.

Insider Buying and Selling

In other Immersion news, Director Elias Nader sold 13,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.22, for a total transaction of $106,860.00. Following the completion of the transaction, the director now directly owns 29,266 shares in the company, valued at $240,566.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Immersion by 288.6% during the fourth 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 in the last quarter. Quarry LP acquired a new position in Immersion during the first quarter worth $39,000. Copeland Capital Management LLC acquired a new position in Immersion during the third quarter worth $29,000. Quantbot Technologies LP acquired a new stake in shares of Immersion in the third quarter valued at $41,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Immersion in the fourth quarter valued at $54,000. 60.57% of the stock is currently owned by institutional investors and hedge funds.

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.