Immersion Co. (NASDAQ:IMMR) Sees Significant Decrease in Short Interest

Immersion Co. (NASDAQ:IMMR - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 3,140,000 shares, a drop of 8.2% from the November 15th total of 3,420,000 shares. Based on an average trading volume of 605,500 shares, the days-to-cover ratio is currently 5.2 days. Approximately 10.9% of the shares of the company are sold short.

Analysts Set New Price Targets

IMMR has been the topic of several recent research reports. BWS Financial lifted their target price on shares of Immersion from $11.00 to $13.50 and gave the company a "buy" rating in a research report on Monday, August 26th. StockNews.com raised Immersion from a "hold" rating to a "buy" rating in a report on Thursday, August 29th.

Immersion Price Performance

Shares of Immersion stock traded up $0.58 during midday trading on Monday, reaching $9.73. The company had a trading volume of 2,883,506 shares, compared to its average volume of 690,483. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $8.69 and a 200 day simple moving average of $9.59. Immersion has a 1-year low of $6.54 and a 1-year high of $13.94. The company has a market capitalization of $314.05 million, a price-to-earnings ratio of 4.75 and a beta of 1.51.

Immersion (NASDAQ:IMMR - Get Free Report) last released its earnings results on Monday, December 16th. The software maker reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.68. Immersion had a return on equity of 27.05% and a net margin of 40.62%. As a group, equities research analysts forecast that Immersion will post 1.96 earnings per share for the current year.

Immersion Dividend Announcement

The firm also recently declared a None dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion's dividend payout ratio is 8.78%.

Institutional Investors Weigh In On Immersion

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Immersion by 2.9% in the third quarter. Geode Capital Management LLC now owns 738,295 shares of the software maker's stock valued at $6,587,000 after buying an additional 20,982 shares during the period. State Street Corp raised its position 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 valued at $6,078,000 after acquiring an additional 6,990 shares during the period. American Century Companies Inc. boosted its stake in Immersion by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 588,995 shares of the software maker's stock worth $5,542,000 after acquiring an additional 31,110 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Immersion by 43.3% during the second quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker's stock valued at $4,688,000 after purchasing an additional 150,513 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Immersion by 8.3% during the third quarter. Victory Capital Management Inc. now owns 405,480 shares of the software maker's stock valued at $3,617,000 after purchasing an additional 31,063 shares during the period. 60.57% of the stock is owned by institutional investors.

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.