Immersion Co. (NASDAQ:IMMR) Announces $0.05 Quarterly Dividend

Immersion Co. (NASDAQ:IMMR) announced a quarterly dividend on Monday, August 12th, Wall Street Journal reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.045 per share by the software maker on Friday, October 18th. This represents a $0.18 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, October 4th.

Immersion has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings.

Immersion Stock Up 0.1 %

Immersion stock opened at $8.70 on Thursday. Immersion has a fifty-two week low of $5.94 and a fifty-two week high of $13.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55. The company has a market capitalization of $277.14 million, a P/E ratio of 6.35 and a beta of 1.48. The stock has a 50-day simple moving average of $9.87 and a 200-day simple moving average of $9.30.

Immersion (NASDAQ:IMMR) last posted its earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, beating 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 return on equity of 27.05% and a net margin of 40.62%. Equities research analysts expect that Immersion will post 1.96 earnings per share for the current year.

Insider Buying and Selling

In related news, insider William C. Martin bought 15,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the acquisition, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Immersion news, CEO Eric Singer purchased 50,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $8.77 per share, with a total value of $438,500.00. Following the purchase, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William C. Martin purchased 15,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the purchase, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. The disclosure for this purchase can be found here. Insiders have bought a total of 66,155 shares of company stock worth $580,675 in the last quarter. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. BWS Financial boosted their target price on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Monday, August 26th.

About Immersion

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.