Equities Analysts Set Expectations for Immersion Co.’s Q2 2024 Earnings (NASDAQ:IMMR)

Immersion Co. (NASDAQ:IMMR) – Analysts at BWS Financial boosted their Q2 2024 earnings per share (EPS) estimates for shares of Immersion in a research report issued on Monday, July 1st. BWS Financial analyst H. Khorsand now forecasts that the software maker will post earnings of $0.50 per share for the quarter, up from their previous estimate of $0.15. BWS Financial has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Immersion’s current full-year earnings is $1.17 per share. BWS Financial also issued estimates for Immersion’s FY2024 earnings at $1.54 EPS.

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

Immersion Stock Performance

Immersion stock opened at $9.51 on Thursday. The business’s 50-day simple moving average is $9.27 and its two-hundred day simple moving average is $7.88. The company has a market cap of $302.89 million, a PE ratio of 6.94 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.

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

Hedge Funds Weigh In On Immersion

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Immersion by 288.6% in the 4th 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 period. Lazard Asset Management LLC acquired a new position in shares of Immersion during the first quarter valued at approximately $72,000. EMC Capital Management acquired a new position in shares of Immersion during the first quarter valued at approximately $120,000. Assenagon Asset Management S.A. acquired a new position in shares of Immersion during the first quarter valued at approximately $134,000. Finally, Teza Capital Management LLC acquired a new position in shares of Immersion during the third quarter valued at approximately $142,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Activity

In other news, CFO J Michael Dodson sold 4,947 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $10.68, for a total value of $52,833.96. Following the completion of the transaction, the chief financial officer now owns 45,053 shares of the company’s stock, valued at approximately $481,166.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.50% of the company’s stock.

Immersion Dividend Announcement

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

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.