Immersion (NASDAQ:IMMR) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Immersion (NASDAQ:IMMR) from a hold rating to a sell rating in a research report sent to investors on Monday.

IMMR has been the subject of a number of other reports. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Immersion Stock Down 3.2%

Shares of IMMR stock opened at $6.43 on Monday. Immersion has a 1 year low of $5.25 and a 1 year high of $7.76. The stock has a market cap of $212.83 million, a PE ratio of 321.50 and a beta of 1.02. The business’s fifty day moving average is $6.54 and its 200-day moving average is $6.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83.

Immersion (NASDAQ:IMMR) last announced its earnings results on Friday, May 1st. The software maker reported ($0.31) earnings per share for the quarter. The firm had revenue of $518.49 million for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. Equities analysts expect that Immersion will post -0.04 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.7%. Immersion’s payout ratio is 1,500.00%.

Hedge Funds Weigh In On Immersion

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of Immersion by 121.5% during the third quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock valued at $3,940,000 after acquiring an additional 294,393 shares during the period. Kanen Wealth Management LLC lifted its position in shares of Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after acquiring an additional 239,318 shares in the last quarter. Numerai GP LLC boosted its stake in Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after purchasing an additional 168,294 shares during the period. Jump Financial LLC boosted its stake in Immersion by 439.8% in the 2nd 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 period. Finally, Squarepoint Ops LLC grew its position in Immersion by 49.9% during the 3rd quarter. Squarepoint Ops LLC now owns 283,231 shares of the software maker’s stock worth $2,079,000 after purchasing an additional 94,243 shares in the last quarter. 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.