Immersion Corporation (NASDAQ:IMMR – Get Free Report) major shareholder Toro 18 Holdings Llc sold 200,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the completion of the sale, the insider owned 1,344,647 shares in the company, valued at $7,019,057.34. This represents a 12.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Immersion Price Performance
Immersion stock traded down $0.05 during mid-day trading on Wednesday, reaching $7.43. 407,718 shares of the company’s stock traded hands, compared to its average volume of 714,905. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $6.87 and a two-hundred day moving average of $6.44. The company has a market cap of $246.60 million, a price-to-earnings ratio of 53.07 and a beta of 1.02.
Immersion (NASDAQ:IMMR – Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million. Immersion had a net margin of 0.26% and a return on equity of 0.80%. Equities analysts forecast that Immersion Corporation will post 0.26 earnings per share for the current year.
Immersion Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on IMMR shares. Zacks Research raised Immersion to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Immersion from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Immersion currently has an average rating of “Hold” and an average target price of $13.50.
Get Our Latest Analysis on IMMR
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Immersion by 253.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock valued at $466,000 after acquiring an additional 44,112 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Immersion during the second quarter worth $80,000. Quantbot Technologies LP lifted its position in shares of Immersion by 212.3% during the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after purchasing an additional 30,703 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock valued at $163,000 after purchasing an additional 2,886 shares during the period. Finally, Jump Financial LLC grew its stake in Immersion by 439.8% in the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after acquiring an additional 103,176 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.
About Immersion
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.
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