Immersion Co. (NASDAQ:IMMR) Forecasted to Post Q3 2024 Earnings of $0.22 Per Share

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

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

Immersion Stock Down 0.3 %

NASDAQ:IMMR opened at $9.51 on Wednesday. The stock’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $7.88. The firm has a market capitalization of $302.89 million, a PE ratio of 6.94 and a beta of 1.50. Immersion has a twelve month low of $5.94 and a twelve month high of $11.04.

Immersion (NASDAQ:IMMR) last released its earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $43.85 million for the quarter, compared to analyst estimates 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

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in shares of Immersion by 288.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after acquiring an additional 3,076 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Immersion during the first quarter worth about $72,000. EMC Capital Management bought a new position in shares of Immersion during the first quarter worth about $120,000. Assenagon Asset Management S.A. bought a new position in shares of Immersion during the first quarter worth about $134,000. Finally, EntryPoint Capital LLC bought a new position in shares of Immersion during the first quarter worth about $158,000. 60.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Immersion

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of the 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 directly owns 45,053 shares in the company, valued at $481,166.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Immersion Announces Dividend

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