Brokers Issue Forecasts for Immersion Co.’s Q3 2024 Earnings (NASDAQ:IMMR)

Immersion Co. (NASDAQ:IMMR) – Investment analysts at BWS Financial increased their Q3 2024 earnings per share (EPS) estimates for Immersion in a research note issued on Monday, July 1st. BWS Financial analyst H. Khorsand now expects that the software maker will post earnings of $0.22 per share for the quarter, up from their previous forecast of $0.21. BWS Financial has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Immersion’s current full-year earnings is $1.17 per share.

Immersion (NASDAQ:IMMR) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. The firm had revenue of $43.85 million during the quarter, compared to analysts’ expectations of $24.94 million. Immersion had a return on equity of 24.50% and a net margin of 62.74%.

Separately, StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Friday, May 17th.

Immersion Stock Up 0.8 %

IMMR stock opened at $9.54 on Wednesday. The stock has a market cap of $303.85 million, a price-to-earnings ratio of 6.96 and a beta of 1.50. Immersion has a fifty-two week low of $5.94 and a fifty-two week high of $11.04. The business has a 50 day moving average price of $9.22 and a 200 day moving average price of $7.87.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, July 8th. Immersion’s dividend payout ratio (DPR) is 13.14%.

Insiders Place Their Bets

In other news, CFO J Michael Dodson sold 4,947 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 45,053 shares of the company’s stock, valued at $481,166.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IMMR. Vanguard Group Inc. boosted its stake in shares of Immersion by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,892,282 shares of the software maker’s stock valued at $14,154,000 after buying an additional 16,287 shares in the last quarter. LSV Asset Management boosted its stake in shares of Immersion by 2.0% in the fourth quarter. LSV Asset Management now owns 1,669,267 shares of the software maker’s stock valued at $11,785,000 after buying an additional 32,069 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Immersion by 2.1% in the first quarter. Russell Investments Group Ltd. now owns 240,023 shares of the software maker’s stock valued at $1,795,000 after buying an additional 4,978 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Immersion by 80.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 224,598 shares of the software maker’s stock valued at $1,586,000 after acquiring an additional 99,853 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Immersion in the 1st quarter valued at about $1,285,000. Institutional investors and hedge funds 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.