BWS Financial Raises Immersion (NASDAQ:IMMR) Price Target to $13.50

Immersion (NASDAQ:IMMR) had its price objective upped by BWS Financial from $11.00 to $13.50 in a research report released on Monday morning, Benzinga reports. BWS Financial currently has a buy rating on the software maker’s stock.

Separately, StockNews.com downgraded Immersion from a buy rating to a hold rating in a report on Wednesday, August 21st.

Immersion Stock Up 0.9 %

Shares of IMMR opened at $8.69 on Monday. The company has a market cap of $276.82 million, a P/E ratio of 6.34 and a beta of 1.50. Immersion has a fifty-two week low of $5.94 and a fifty-two week high of $13.94. The firm’s 50 day moving average price is $10.68 and its 200 day moving average price is $9.00.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.34 by $0.55. The business had revenue of $99.42 million during the quarter, compared to the consensus estimate of $7.29 million. Immersion had a net margin of 62.74% and a return on equity of 24.50%. Research analysts forecast that Immersion will post 1.54 earnings per share for the current year.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, October 4th. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Insider Buying and Selling at Immersion

In other news, CFO J Michael Dodson sold 4,947 shares of Immersion stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $10.68, for a total transaction of $52,833.96. Following the completion of the sale, the chief financial officer now directly owns 45,053 shares of the company’s stock, valued at approximately $481,166.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Immersion news, CFO J Michael Dodson sold 4,947 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $10.68, for a total value of $52,833.96. Following the sale, the chief financial officer now directly owns 45,053 shares in the company, valued at $481,166.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Singer acquired 50,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $8.77 per share, with a total value of $438,500.00. Following the completion of the transaction, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The disclosure for this purchase can be found here. In the last three months, insiders have bought 66,155 shares of company stock valued at $580,675. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

Several hedge funds have recently added to or reduced their stakes in IMMR. Quarry LP purchased a new stake in shares of Immersion during the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC grew its holdings in shares of Immersion by 288.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after purchasing an additional 3,076 shares during the last quarter. CWM LLC increased its position in shares of Immersion by 160.3% during the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock worth $61,000 after purchasing an additional 3,995 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Immersion during the first quarter worth about $72,000. Finally, Caprock Group LLC acquired a new stake in shares of Immersion in the 2nd quarter valued at about $107,000. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Immersion Company Profile

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.