Immersion (NASDAQ:IMMR) Shares Cross Above Two Hundred Day Moving Average of $6.66

Immersion Co. (NASDAQ:IMMR – Get Rating)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.66 and traded as high as $7.98. Immersion shares last traded at $7.96, with a volume of 525,599 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IMMR shares. StockNews.com cut Immersion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 23rd. TheStreet raised Immersion from a “c+” rating to a “b-” rating in a report on Thursday, December 1st. Finally, BWS Financial started coverage on Immersion in a report on Monday, February 6th. They issued a “buy” rating and a $11.00 target price on the stock.

Immersion Price Performance

The company has a 50-day simple moving average of $7.41 and a 200-day simple moving average of $6.66. The firm has a market cap of $257.59 million, a PE ratio of 8.56 and a beta of 1.43.

Immersion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 13th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, April 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.51%. Immersion’s payout ratio is 12.90%.

Insider Buying and Selling

In other news, CFO Aaron Akerman sold 12,112 shares of the company’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $7.51, for a total transaction of $90,961.12. Following the transaction, the chief financial officer now directly owns 44,392 shares of the company’s stock, valued at $333,383.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immersion

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of Immersion by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 179,484 shares of the software maker’s stock worth $985,000 after buying an additional 1,946 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Immersion by 11.6% during the 3rd quarter. ProShare Advisors LLC now owns 19,186 shares of the software maker’s stock worth $105,000 after purchasing an additional 2,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Immersion by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 96,103 shares of the software maker’s stock worth $676,000 after acquiring an additional 2,668 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in Immersion by 2.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 96,103 shares of the software maker’s stock worth $676,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in Immersion by 23.3% during the 2nd quarter. Trexquant Investment LP now owns 17,287 shares of the software maker’s stock worth $92,000 after acquiring an additional 3,272 shares in the last quarter. 43.38% of the stock is owned by hedge funds and other institutional investors.

About Immersion

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Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The firm offers touch sense platform and design services. It focuses on the following target application areas: mobile devices, wearable, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial.