BWS Financial Reaffirms “Buy” Rating for Immersion (NASDAQ:IMMR)

BWS Financial restated their buy rating on shares of Immersion (NASDAQ:IMMR) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $11.00 target price on the software maker’s stock.

Separately, StockNews.com upgraded Immersion from a hold rating to a buy rating in a research note on Friday, March 8th.

Immersion Stock Up 0.1 %

Shares of Immersion stock opened at $7.10 on Thursday. Immersion has a 12-month low of $5.94 and a 12-month high of $8.62. The stock has a market cap of $225.07 million, a P/E ratio of 6.89 and a beta of 1.49. The business’s 50 day moving average is $7.28 and its 200-day moving average is $6.92.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data 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. Immersion had a return on equity of 19.75% and a net margin of 100.17%. The company had revenue of $10.38 million for the quarter, compared to analysts’ expectations of $9.25 million. On average, sell-side analysts expect that Immersion will post 1.11 EPS for the current year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 12th will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, April 11th. Immersion’s dividend payout ratio (DPR) is presently 17.48%.

Insider Activity at Immersion

In related 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 value of $106,860.00. Following the sale, the director now owns 29,266 shares in the company, valued at approximately $240,566.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immersion

A number of large investors have recently added to or reduced their stakes in IMMR. ProShare Advisors LLC bought a new stake in Immersion in the 1st quarter valued at $105,000. Bank of New York Mellon Corp increased its position in Immersion by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 182,342 shares of the software maker’s stock worth $1,014,000 after buying an additional 6,244 shares during the period. Vanguard Group Inc. increased its position in Immersion by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 1,399,161 shares of the software maker’s stock worth $7,780,000 after buying an additional 70,196 shares during the period. State Street Corp increased its position in Immersion by 4.4% during the 1st quarter. State Street Corp now owns 698,234 shares of the software maker’s stock worth $3,882,000 after buying an additional 29,368 shares during the period. Finally, Stansberry Asset Management LLC increased its position in Immersion by 7.6% during the 1st quarter. Stansberry Asset Management LLC now owns 163,189 shares of the software maker’s stock worth $907,000 after buying an additional 11,499 shares during the period. 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.