Immersion (NASDAQ:IMMR) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Immersion Corporation (NASDAQ:IMMRGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.36 and traded as high as $6.73. Immersion shares last traded at $6.70, with a volume of 690,863 shares.

Wall Street Analysts Forecast Growth

IMMR has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Zacks Research raised shares of Immersion to a “hold” rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.50.

Read Our Latest Analysis on IMMR

Immersion Trading Up 0.3%

The stock has a market capitalization of $221.77 million, a price-to-earnings ratio of 335.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83. The business has a 50-day moving average of $6.32 and a 200-day moving average of $6.36.

Immersion (NASDAQ:IMMRGet Free Report) last released its quarterly earnings results 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, research analysts forecast that Immersion Corporation will post -0.04 EPS for the current year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Monday, April 20th were given a dividend of $0.075 per share. The ex-dividend date was Monday, April 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.5%. Immersion’s dividend payout ratio (DPR) is 1,500.00%.

Institutional Trading of Immersion

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in Immersion by 121.5% during the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after purchasing an additional 294,393 shares during the period. Kanen Wealth Management LLC increased its stake in Immersion by 51.0% in the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after purchasing an additional 239,318 shares during the period. Numerai GP LLC increased its stake in Immersion by 810.5% in the third quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock valued at $1,388,000 after purchasing an additional 168,294 shares during the period. Jump Financial LLC raised its holdings in shares of Immersion by 439.8% in the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock valued at $998,000 after buying an additional 103,176 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Immersion by 49.9% in the third quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock valued at $2,079,000 after buying an additional 94,243 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

About Immersion

(Get Free Report)

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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