Immersion (NASDAQ:IMMR) Posts Earnings Results, Beats Expectations By $0.07 EPS

Immersion (NASDAQ:IMMR) released its quarterly earnings results on Friday. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07, FiscalAI reports. The firm had revenue of $270.00 million for the quarter, compared to the consensus estimate of $230.00 million. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.

Immersion Stock Down 1.2%

IMMR stock opened at $6.52 on Friday. Immersion has a one year low of $5.25 and a one year high of $7.51. The stock has a market capitalization of $215.81 million, a PE ratio of 326.00 and a beta of 1.02. 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 company has a fifty day moving average of $6.56 and a 200-day moving average of $6.34.

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 20th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a yield of 4.6%. Immersion’s dividend payout ratio is presently 1,500.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IMMR. Wall Street Zen cut Immersion from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IMMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Immersion by 253.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock valued at $466,000 after purchasing an additional 44,112 shares during the period. XTX Topco Ltd acquired a new position in Immersion during the 2nd quarter worth approximately $80,000. Quantbot Technologies LP raised its stake in shares of Immersion by 212.3% during the 2nd quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after buying an additional 30,703 shares in the last quarter. Invesco Ltd. raised its stake in shares of Immersion by 16.2% during the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after buying an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Immersion by 439.8% in the 2nd 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 period. 60.57% of the stock is owned by hedge funds and other institutional investors.

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.