Immersion (NASDAQ:IMMR) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Immersion (NASDAQ:IMMR) announced its quarterly earnings data on Wednesday. The software maker reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18), Zacks reports. The firm had revenue of $292.03 million for the quarter, compared to analysts’ expectations of $425.00 million.

Immersion Price Performance

Immersion stock traded down $0.21 during trading hours on Friday, hitting $5.73. 534,147 shares of the stock traded hands, compared to its average volume of 354,873. The firm’s 50 day moving average price is $6.32 and its 200-day moving average price is $6.64. The stock has a market capitalization of $188.47 million, a price-to-earnings ratio of 2.06 and a beta of 0.89. Immersion has a 1 year low of $5.59 and a 1 year high of $8.15.

Hedge Funds Weigh In On Immersion

Several hedge funds and other institutional investors have recently bought and sold shares of IMMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after buying an additional 44,112 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Immersion in the second quarter worth $80,000. Quantbot Technologies LP increased its stake 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 acquiring an additional 30,703 shares during the period. Invesco Ltd. raised its holdings in shares of Immersion by 16.2% during 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 lifted its position in Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock valued at $998,000 after purchasing an additional 103,176 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

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.