Immersion (NASDAQ:IMMR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Immersion (NASDAQ:IMMR) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

IMMR has been the topic of a number of other reports. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Weiss Ratings lowered shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.50.

Immersion Stock Performance

IMMR stock opened at $6.56 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25. The firm has a market cap of $217.14 million, a P/E ratio of 328.00 and a beta of 1.02. Immersion has a 12-month low of $5.25 and a 12-month high of $7.66. The stock’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $6.34.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share (EPS) for the quarter. The firm had revenue of $518.49 million for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%. As a group, equities research analysts predict that Immersion will post -0.04 EPS for the current year.

Immersion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be given a $0.075 dividend. The ex-dividend date is Monday, July 20th. This represents a $0.30 annualized dividend and a yield of 4.6%. Immersion’s dividend payout ratio is 1,500.00%.

Institutional Investors Weigh In On Immersion

Several large investors have recently made changes to their positions in the company. Optiver Holding B.V. raised its holdings in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after buying an additional 7,414 shares during the last quarter. Bank of America Corp DE grew its holdings in Immersion by 175.1% in the 1st quarter. Bank of America Corp DE now owns 82,127 shares of the software maker’s stock worth $448,000 after buying an additional 52,273 shares in the last quarter. Kanen Wealth Management LLC grew its holdings in Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after buying an additional 239,318 shares in the last quarter. Quantinno Capital Management LP increased its position in Immersion by 40.0% in the 1st quarter. Quantinno Capital Management LP now owns 48,999 shares of the software maker’s stock valued at $268,000 after acquiring an additional 14,011 shares during the period. Finally, Rangeley Capital LLC acquired a new stake in Immersion in the 1st quarter valued at approximately $410,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

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.