Immersion Co. (NASDAQ:IMMR) Insider Purchases $204,982.50 in Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin purchased 27,150 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $7.55 per share, with a total value of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares of the company’s stock, valued at $10,952,732.15. This represents a 1.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Immersion Stock Down 0.9 %

Shares of IMMR opened at $7.91 on Thursday. The stock has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.54. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $256.25 million, a PE ratio of 2.83 and a beta of 1.55. Immersion Co. has a 52-week low of $7.06 and a 52-week high of $13.94.

Immersion (NASDAQ:IMMR) last issued its earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. As a group, equities analysts forecast that Immersion Co. will post 1.57 EPS for the current year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be given a $0.045 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.28%. Immersion’s payout ratio is 6.47%.

Institutional Investors Weigh In On Immersion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Immersion by 276.0% during the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock worth $353,000 after purchasing an additional 29,054 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Immersion during the fourth quarter worth about $51,000. Franklin Resources Inc. increased its position in shares of Immersion by 5.8% during the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock valued at $447,000 after acquiring an additional 2,879 shares during the last quarter. State Street Corp lifted its holdings in shares of Immersion by 1.0% in the 3rd quarter. State Street Corp now owns 681,414 shares of the software maker’s stock worth $6,078,000 after acquiring an additional 6,990 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Immersion by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock worth $775,000 after purchasing an additional 2,416 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IMMR. BWS Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Thursday, March 13th. Craig Hallum dropped their price objective on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

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.