Immersion’s (IMMR) Buy Rating Reiterated at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Immersion (NASDAQ:IMMR) in a research note published on Monday, Benzinga reports. BWS Financial currently has a $11.00 price objective on the software maker’s stock. BWS Financial also issued estimates for Immersion’s Q2 2024 earnings at $0.50 EPS, Q3 2024 earnings at $0.22 EPS and FY2024 earnings at $1.54 EPS.

Separately, StockNews.com raised shares of Immersion from a hold rating to a buy rating in a research note on Friday, May 17th.

Immersion Price Performance

IMMR opened at $9.51 on Monday. The company has a market capitalization of $302.89 million, a PE ratio of 6.94 and a beta of 1.50. Immersion has a fifty-two week low of $5.94 and a fifty-two week high of $11.04. The business has a 50-day moving average of $9.32 and a 200-day moving average of $7.89.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. The firm had revenue of $43.85 million for the quarter, compared to analyst estimates of $24.94 million. Immersion had a net margin of 62.74% and a return on equity of 24.50%. On average, equities research analysts expect that Immersion will post 1.17 earnings per share for the current fiscal year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be issued a $0.045 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.18 annualized dividend and a yield of 1.89%. Immersion’s dividend payout ratio (DPR) is currently 13.14%.

Insiders Place Their Bets

In other news, CFO J Michael Dodson sold 4,947 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $10.68, for a total value of $52,833.96. Following the completion of the sale, the chief financial officer now directly owns 45,053 shares in the company, valued at $481,166.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Immersion

Several hedge funds and other institutional investors have recently made changes to their positions in IMMR. Tower Research Capital LLC TRC grew its holdings in Immersion by 288.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock valued at $29,000 after buying an additional 3,076 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Immersion in the first quarter valued at approximately $72,000. EMC Capital Management acquired a new stake in shares of Immersion in the first quarter worth $120,000. Assenagon Asset Management S.A. acquired a new position in Immersion during the 1st quarter valued at $134,000. Finally, EntryPoint Capital LLC bought a new stake in Immersion in the 1st quarter valued at $158,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Company Profile

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.