Immersion (NASDAQ:IMMR) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Immersion Corporation (NASDAQ:IMMR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.36 and traded as high as $6.44. Immersion shares last traded at $6.38, with a volume of 279,847 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on IMMR shares. Zacks Research upgraded Immersion to a “hold” rating in a research note on Friday, May 8th. Wall Street Zen downgraded Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.50.

Immersion Stock Up 1.8%

The firm has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $6.36. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $211.18 million, a price-to-earnings ratio of 319.00 and a beta of 1.03.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.The company had revenue of $518.49 million for the quarter. As a group, sell-side analysts expect that Immersion Corporation will post -0.04 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently declared 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 of this dividend was Monday, April 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.7%. Immersion’s dividend payout ratio (DPR) is presently 1,500.00%.

Hedge Funds Weigh In On Immersion

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Immersion by 175.1% during the first quarter. Bank of America Corp DE now owns 82,127 shares of the software maker’s stock worth $448,000 after purchasing an additional 52,273 shares during the last quarter. Kanen Wealth Management LLC lifted its position in shares of Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after purchasing an additional 239,318 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Immersion by 40.0% during the first quarter. Quantinno Capital Management LP now owns 48,999 shares of the software maker’s stock worth $268,000 after purchasing an additional 14,011 shares during the last quarter. Rangeley Capital LLC bought a new position in shares of Immersion during the first quarter worth about $410,000. Finally, First Trust Advisors LP lifted its position in shares of Immersion by 2.1% during the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock worth $480,000 after purchasing an additional 1,819 shares during the last quarter. Institutional investors own 60.57% of the company’s stock.

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.