Immersion (NASDAQ:IMMR) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

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

Immersion Trading Down 2.8%

NASDAQ:IMMR traded down $0.17 during mid-day trading on Friday, hitting $5.77. The stock had a trading volume of 430,776 shares, compared to its average volume of 353,682. The stock has a market capitalization of $189.78 million, a price-to-earnings ratio of 2.08 and a beta of 0.89. The company has a 50 day simple moving average of $6.32 and a 200-day simple moving average of $6.64. Immersion has a 52 week low of $5.59 and a 52 week high of $8.15.

Institutional Investors Weigh In On Immersion

Several large investors have recently made changes to their positions in IMMR. Russell Investments Group Ltd. increased its position in Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after acquiring an additional 2,041 shares during the period. Tower Research Capital LLC TRC boosted its position in Immersion by 677.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after acquiring an additional 6,743 shares during the period. XTX Topco Ltd bought a new position in shares of Immersion in the second quarter worth $80,000. Virtu Financial LLC acquired a new position in shares of Immersion during the fourth quarter valued at $84,000. Finally, Parallel Advisors LLC acquired a new position in shares of Immersion during the fourth quarter valued at $86,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Immersion Company Profile

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.