BWS Financial Reaffirms Buy Rating for Immersion (NASDAQ:IMMR)

BWS Financial reissued their buy rating on shares of Immersion (NASDAQ:IMMR) in a research report report published on Thursday, Benzinga reports. The firm currently has a $11.00 price target on the software maker’s stock.

Separately, StockNews.com upgraded shares of Immersion from a hold rating to a buy rating in a report on Friday, March 8th.

Immersion Price Performance

Shares of IMMR stock opened at $7.17 on Thursday. The firm has a 50-day moving average of $7.28 and a 200-day moving average of $6.93. The company has a market cap of $227.29 million, a P/E ratio of 6.96 and a beta of 1.49. Immersion has a one year low of $5.94 and a one year high of $8.62.

Immersion (NASDAQ:IMMR) last announced its earnings results on Thursday, March 7th. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.19 by $0.30. Immersion had a net margin of 100.17% and a return on equity of 19.75%. The company had revenue of $10.38 million during the quarter, compared to the consensus estimate of $9.25 million. As a group, research analysts expect that Immersion will post 1.11 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a dividend of $0.045 per share. The ex-dividend date was Thursday, April 11th. This represents a $0.18 dividend on an annualized basis and a yield of 2.51%. Immersion’s dividend payout ratio (DPR) is presently 17.48%.

Insider Buying and Selling

In other Immersion news, Director Elias Nader sold 13,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.22, for a total transaction of $106,860.00. Following the completion of the transaction, the director now owns 29,266 shares in the company, valued at $240,566.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immersion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its position in Immersion by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 101,922 shares of the software maker’s stock worth $720,000 after purchasing an additional 1,605 shares during the period. Campbell & CO Investment Adviser LLC boosted its position in Immersion by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 104,834 shares of the software maker’s stock worth $740,000 after purchasing an additional 1,757 shares during the period. Bank of New York Mellon Corp boosted its position in Immersion by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 179,484 shares of the software maker’s stock worth $985,000 after purchasing an additional 1,946 shares during the period. Rhumbline Advisers boosted its position in shares of Immersion by 4.7% in the third quarter. Rhumbline Advisers now owns 50,017 shares of the software maker’s stock valued at $331,000 after acquiring an additional 2,232 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Immersion by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 57,810 shares of the software maker’s stock valued at $408,000 after acquiring an additional 2,991 shares during the period. Institutional investors own 60.57% of the company’s stock.

About Immersion

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.