Immersion (IMMR) Declares $0.03 Dividend

Immersion said on May 10, 2023 that its board of directors declared a regular quarterly dividend of $0.03 per share ($0.12 annualized). Previously, the company paid $0.03 per share.

Shares must be purchased before the ex-div date of July 12, 2023 to qualify for the dividend. Shareholders of record as of July 13, 2023 will receive the payment on July 28, 2023.

At the current share price of $6.98 / share, the stock's dividend yield is 1.72%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.62%, the lowest has been 0.72%, and the highest has been 2.72%. The standard deviation of yields is 0.42 (n=237).

The current dividend yield is 0.24 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 196 funds or institutions reporting positions in Immersion. This is an increase of 48 owner(s) or 32.43% in the last quarter. Average portfolio weight of all funds dedicated to IMMR is 0.17%, a decrease of 29.17%. Total shares owned by institutions increased in the last three months by 9.19% to 20,752K shares. The put/call ratio of IMMR is 0.73, indicating a bullish outlook.

Analyst Price Forecast Suggests 53.44% Upside

As of May 11, 2023, the average one-year price target for Immersion is 10.71. The forecasts range from a low of 10.10 to a high of $11.55. The average price target represents an increase of 53.44% from its latest reported closing price of 6.98.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Immersion is 34MM, a decrease of 9.81%. The projected annual non-GAAP EPS is 0.64.

What are Other Shareholders Doing?

Invenomic Capital Management holds 1,534K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 1,669K shares, representing a decrease of 8.79%. The firm decreased its portfolio allocation in IMMR by 7.01% over the last quarter.

Millennium Management holds 1,189K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 50K shares, representing an increase of 95.79%. The firm increased its portfolio allocation in IMMR by 2,743.14% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,103K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 963K shares, representing an increase of 12.67%. The firm increased its portfolio allocation in IMMR by 35.41% over the last quarter.

Portolan Capital Management holds 1,071K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 1,138K shares, representing a decrease of 6.25%. The firm increased its portfolio allocation in IMMR by 13.13% over the last quarter.

Royce & Associates holds 1,004K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 944K shares, representing an increase of 5.98%. The firm increased its portfolio allocation in IMMR by 29.54% over the last quarter.

Immersion Background Information
(This description is provided by the company.)

Immersion Corporation is the leading innovator of touch feedback technology, also known as haptics. The company invents, accelerates, and scales haptic experiences by providing technology solutions for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users' sense of touch.

This story originally appeared on Fintel.