Immersion Co. (NASDAQ:IMMR) Plans $0.05 Quarterly Dividend

Immersion Co. (NASDAQ:IMMR) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Monday, July 8th will be paid a dividend of 0.045 per share by the software maker on Friday, July 26th. This represents a $0.18 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, July 8th.

Immersion Stock Performance

Shares of NASDAQ IMMR traded up $0.18 during trading on Friday, hitting $8.26. 321,461 shares of the company traded hands, compared to its average volume of 494,554. Immersion has a fifty-two week low of $5.94 and a fifty-two week high of $8.62. The firm has a market capitalization of $261.85 million, a price-to-earnings ratio of 8.06 and a beta of 1.46. The business’s fifty day moving average is $7.36 and its 200 day moving average is $6.98.

Immersion (NASDAQ:IMMR) last posted its earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.30. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The company had revenue of $10.38 million for the quarter, compared to analyst estimates of $9.25 million. On average, analysts predict that Immersion will post 1.14 EPS for the current year.

Insider Buying and Selling

In related news, Director Elias Nader sold 13,000 shares of the firm’s stock in a transaction that occurred 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 approximately $240,566.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BWS Financial restated a “buy” rating and issued a $11.00 target price on shares of Immersion in a report on Thursday, April 18th. StockNews.com downgraded shares of Immersion from a “buy” rating to a “hold” rating in a research report on Thursday.

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.