Immersion Co. (NASDAQ:IMMR) Plans $0.05 Quarterly Dividend

Immersion Co. (NASDAQ:IMMR) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Monday, July 8th will be given a dividend of 0.045 per share by the software maker on Friday, July 26th. This represents a $0.18 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, July 8th.

Immersion Price Performance

NASDAQ IMMR traded up $0.22 on Friday, hitting $8.30. The company had a trading volume of 260,409 shares, compared to its average volume of 493,895. The company has a market capitalization of $263.12 million, a PE ratio of 7.84 and a beta of 1.46. The company’s fifty day moving average price is $7.36 and its 200-day moving average price is $6.98. Immersion has a 12-month low of $5.94 and a 12-month high of $8.62.

Immersion (NASDAQ:IMMR) last released its 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. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The business had revenue of $10.38 million during the quarter, compared to analyst estimates of $9.25 million. On average, sell-side analysts anticipate that Immersion will post 1.14 EPS for the current year.

Insider Buying and Selling

In other news, Director Elias Nader sold 13,000 shares of Immersion stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.22, for a total value of $106,860.00. Following the transaction, the director now directly owns 29,266 shares of the company’s stock, valued at approximately $240,566.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IMMR. StockNews.com lowered shares of Immersion from a “buy” rating to a “hold” rating in a research note on Thursday. BWS Financial reissued a “buy” rating and issued a $11.00 target price on shares of Immersion in a report on Thursday, April 18th.

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.