Immersion (NASDAQ:IMMR) Shares Pass Above 200-Day Moving Average of $6.95

Shares of Immersion Co. (NASDAQ:IMMR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.95 and traded as high as $7.26. Immersion shares last traded at $7.25, with a volume of 371,854 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. BWS Financial reissued a “buy” rating and issued a $11.00 price objective on shares of Immersion in a research report on Thursday, April 18th.

Immersion Stock Performance

The firm has a fifty day simple moving average of $7.27 and a 200 day simple moving average of $6.95. The company has a market capitalization of $229.83 million, a PE ratio of 7.04 and a beta of 1.49.

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

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, April 11th. Immersion’s dividend payout ratio (DPR) is 17.48%.

Insider Activity

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 sale, the director now owns 29,266 shares of the company’s stock, valued at approximately $240,566.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Immersion

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new stake in shares of Immersion during the third quarter worth about $29,000. Tower Research Capital LLC TRC grew its position in Immersion by 288.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after purchasing an additional 3,076 shares during the last quarter. Quantbot Technologies LP acquired a new position in Immersion during the 3rd quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new position in shares of Immersion in the third quarter worth $93,000. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Immersion during the third quarter worth $98,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.