Immersion (NASDAQ:IMMR) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Immersion Corporation (NASDAQ:IMMR)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.40 and traded as high as $6.71. Immersion shares last traded at $6.68, with a volume of 543,375 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on IMMR. Weiss Ratings lowered shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen lowered shares of Immersion from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.50.

Immersion Price Performance

The stock has a market capitalization of $221.11 million, a PE ratio of 8.35 and a beta of 1.03. The firm’s 50 day simple moving average is $6.04 and its 200 day simple moving average is $6.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.12.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. The business had revenue of $518.49 million for the quarter. Immersion had a return on equity of 4.29% and a net margin of 1.03%.

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 20th were paid 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 dividend yield of 4.5%. Immersion’s dividend payout ratio (DPR) is 37.50%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IMMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Immersion by 253.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after acquiring an additional 44,112 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Immersion in the second quarter worth approximately $80,000. Quantbot Technologies LP grew its holdings in shares of Immersion by 212.3% in the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after purchasing an additional 30,703 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Immersion by 16.2% in the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,886 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Immersion by 439.8% in the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after purchasing an additional 103,176 shares during the last quarter. 60.57% of the stock is owned by hedge funds and other institutional investors.

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.