BWS Financial Reiterates “Buy” Rating for Immersion (NASDAQ:IMMR)

BWS Financial reissued their buy rating on shares of Immersion (NASDAQ:IMMR) in a report issued on Thursday,Benzinga reports. BWS Financial currently has a $13.50 price target on the software maker’s stock.

Separately, Craig Hallum cut their price target on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday.

Immersion Price Performance

IMMR stock opened at $7.44 on Thursday. Immersion has a 1 year low of $7.06 and a 1 year high of $13.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The stock has a market cap of $240.13 million, a price-to-earnings ratio of 2.66 and a beta of 1.55. The company has a 50 day simple moving average of $8.36 and a 200 day simple moving average of $8.63.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The company had revenue of $474.76 million during the quarter, compared to analysts’ expectations of $9.45 million. Research analysts anticipate that Immersion will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is currently 4.64%.

Institutional Trading of Immersion

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in Immersion by 29,900.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock worth $26,000 after buying an additional 2,990 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Immersion in the fourth quarter worth approximately $51,000. Quarry LP acquired a new position in shares of Immersion in the fourth quarter worth approximately $54,000. AlphaQuest LLC bought a new stake in Immersion in the fourth quarter valued at approximately $61,000. Finally, Legal & General Group Plc increased its position in Immersion by 44.2% during the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock valued at $69,000 after purchasing an additional 2,425 shares during the period. Institutional investors own 60.57% of the company’s stock.

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.