Immersion Co. Insider Makes Significant Share Purchase

Immersion Co. (NASDAQ:IMMR) has seen some notable insider trading activity. On Thursday, March 20th, William C. Martin, an insider of the company, purchased 27,150 shares of Immersion's stock. He acquired these shares at an average price of $7.55 each, culminating in a total investment of $204,982.50. After this transaction, Martin's total ownership in Immersion rises to 1,450,693 shares, which are currently valued at around $10,952,732.15. This acquisition marks a 1.91% increase in his holdings. Such transactions are often disclosed in filings with the Securities and Exchange Commission (SEC), which can be reviewed for more details.

Recent Stock Performance

Recently, Immersion's stock demonstrated robust activity, jumping by 4.8%. During midday trading on the following Monday, the stock was valued at $7.82, showing an increase of $0.36. In total, 769,551 shares were traded, a significant difference compared to the average volume of 517,110. The company possesses a market capitalization of $253.34 million, alongside a PE ratio of 2.79 and a beta of 1.55. Over the past year, Immersion has reached a low of $7.06 and a high of $13.94. The company shows a debt-to-equity ratio of 0.37 with quick and current ratios at 0.94 and 1.65, respectively. Meanwhile, the stock's 50-day and 200-day moving averages are around $8.21 and $8.56.

Financial Results

On March 12th, Immersion released its quarterly earnings, revealing an earnings per share (EPS) of $0.47. This surpassed the consensus estimate of $0.14 by $0.33. The company's revenue for the quarter stood at $474.76 million, significantly exceeding analyst predictions of $9.45 million. Immersion reported a return on equity of 28.08% and a net margin of 11.79%. Analysts forecast that the company will report EPS of 1.57 for the current fiscal year, indicating potential growth.

Dividend Announcement

In addition to the positive performance, Immersion also declared a quarterly dividend that will be distributed on April 25th. Shareholders recorded by April 14th will receive a dividend of $0.045 per share. This results in an annualized dividend of $0.18, translating to a yield of 2.30%. The current payout ratio for Immersion stands at 6.47%, indicating a balanced approach to shareholder returns.

Institutional Investors' Activity

Recent trading patterns show increased interest from institutional investors in Immersion. For instance, Millennium Management LLC expanded its position by 128.3% in the fourth quarter, acquiring an additional 446,623 shares. Kanen Wealth Management LLC also increased its stake by 84.6%, now owning 600,000 shares after adding 275,000 shares in the last quarter. Other notable activity includes Raymond James Financial acquiring new positions and Segall Bryant & Hamill increasing their holdings by 41.7%. Overall, hedge funds and institutional investors currently hold 60.57% of Immersion's shares.

Analyst Ratings

An array of analysts have expressed their views on Immersion recently. BWS Financial reiterated a 'buy' rating while setting a target price of $13.50 for the shares. In contrast, Craig Hallum adjusted their target price from $14.00 to $11.00 while maintaining a 'buy' rating for the stock, indicating a generally optimistic outlook despite slight revisions.

About Immersion

Immersion Corporation, along with its subsidiaries, specializes in the design, development, and licensing of haptic technologies, enabling users to experience digital products through touch. The company operates across North America, Europe, and Asia and provides a range of technology, patent, and combined licenses.

Immersion, Insider, Stock