Immersion (NASDAQ:IMMR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Immersion Corporation (NASDAQ:IMMR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.37 and traded as high as $6.66. Immersion shares last traded at $6.64, with a volume of 391,644 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Zacks Research raised Immersion to a “hold” rating in a report on Friday, May 8th. Wall Street Zen downgraded Immersion from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings downgraded Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. One investment 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 stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Immersion Price Performance

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 firm has a market capitalization of $219.78 million, a PE ratio of 332.00 and a beta of 1.03. The company has a fifty day moving average price of $6.21 and a two-hundred day moving average price of $6.37.

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

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Monday, April 20th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, April 20th. Immersion’s payout ratio is 1,500.00%.

Hedge Funds Weigh In On Immersion

Several institutional investors have recently added to or reduced their stakes in IMMR. Millennium Management LLC increased its position in Immersion by 121.5% in the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock valued at $3,940,000 after acquiring an additional 294,393 shares during the period. Kanen Wealth Management LLC increased its position in Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after acquiring an additional 239,318 shares during the period. Numerai GP LLC increased its position in Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock valued at $1,388,000 after acquiring an additional 168,294 shares during the period. Jump Financial LLC increased its position in 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 acquiring an additional 103,176 shares during the period. Finally, Squarepoint Ops LLC increased its position in Immersion by 49.9% in the 3rd quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock valued at $2,079,000 after acquiring an additional 94,243 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Immersion Company Profile

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.