Immersion (NASDAQ:IMMR) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Immersion Corporation (NASDAQ:IMMR) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.35 and traded as high as $6.90. Immersion shares last traded at $6.48, with a volume of 556,684 shares changing hands.

Analyst Upgrades and Downgrades

IMMR has been the topic of a number of research analyst reports. Zacks Research upgraded Immersion to a “hold” rating in a research report on Friday, May 8th. Wall Street Zen lowered Immersion from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.50.

Immersion Stock Performance

The firm has a fifty day simple moving average of $6.12 and a 200-day simple moving average of $6.35. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25. The stock has a market cap of $214.49 million, a price-to-earnings ratio of 324.00 and a beta of 1.03.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share (EPS) for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.The firm had revenue of $518.49 million for the quarter. Analysts forecast that Immersion Corporation will post -0.04 EPS for the current fiscal year.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 20th were issued 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 yield of 4.6%. Immersion’s dividend payout ratio is currently 1,500.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Optiver Holding B.V. lifted its holdings in Immersion by 1,681.2% during the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after buying an additional 7,414 shares in the last quarter. Bank of America Corp DE lifted its holdings in Immersion by 175.1% during the 1st quarter. Bank of America Corp DE now owns 82,127 shares of the software maker’s stock worth $448,000 after buying an additional 52,273 shares in the last quarter. Kanen Wealth Management LLC lifted its holdings in Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after buying an additional 239,318 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Immersion by 40.0% in the 1st quarter. Quantinno Capital Management LP now owns 48,999 shares of the software maker’s stock valued at $268,000 after purchasing an additional 14,011 shares during the period. Finally, Rangeley Capital LLC acquired a new position in shares of Immersion in the 1st quarter valued at $410,000. Institutional investors and hedge funds 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.