Immersion Co. (NASDAQ:IMMR – Get Free Report) announced a quarterly dividend on Wednesday, August 21st, Wall Street Journal reports. Investors of record on Friday, October 4th will be paid a dividend of 0.045 per share by the software maker on Friday, October 18th. This represents a $0.18 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, October 4th.
Immersion has a payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings.
Immersion Trading Down 0.3 %
IMMR stock traded down $0.03 during trading hours on Wednesday, hitting $9.90. 3,519,532 shares of the stock were exchanged, compared to its average volume of 633,167. The firm has a market capitalization of $315.36 million, a P/E ratio of 7.23 and a beta of 1.50. Immersion has a 12 month low of $5.94 and a 12 month high of $13.94. The company has a 50-day simple moving average of $10.88 and a two-hundred day simple moving average of $8.92.
Insider Buying and Selling
In other news, CFO J Michael Dodson sold 4,947 shares of the company’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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. BWS Financial restated a “buy” rating and set a $11.00 price objective on shares of Immersion in a research report on Monday, July 1st. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a report on Friday, May 17th.
View Our Latest Research Report on Immersion
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.
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