Immersion corp CEO Eric Singer acquires $357,561 in stock

Eric Singer, the President and CEO of Immersion Corp (NASDAQ:IMMR), recently purchased shares of the company, according to a filing with the Securities and Exchange Commission. Over the course of two days, Singer acquired a total of 47,638 shares of Immersion Corp, amounting to a total transaction value of $357,561. The company, currently valued at $242 million, trades at an attractive P/E ratio of 3.6x and offers a dividend yield of 2.4%.

The purchases occurred on March 20 and March 21, with Singer buying 42,638 shares at a weighted average price of $7.51 per share on the first day. The shares were acquired in multiple transactions, with prices ranging from $7.49 to $7.54 per share. On the following day, Singer added another 5,000 shares to his holdings at a price of $7.47 per share. According to InvestingPro, the stock appears undervalued based on its Fair Value analysis, with analysts projecting sales growth for the current year.

These transactions increased Singer’s direct ownership to 2,166,866 shares, reflecting his continued confidence in the company. Immersion Corp, known for its advanced touch feedback technology, has been a prominent player in the computer peripheral equipment industry. The company maintains a healthy financial position with a current ratio of 1.55 and has demonstrated strong profitability with a gross margin of 75%.

In other recent news, Immersion Corporation reported fourth-quarter earnings that surpassed analyst expectations, with a notable increase in revenue driven by its acquisition of a controlling stake in Barnes & Noble Education. The company posted adjusted earnings per share of $0.63, exceeding the analyst consensus of $0.52. Revenue for the quarter surged to $474.8 million, significantly above estimates of $262 million and up from $9.5 million in the same quarter last year. This substantial revenue growth was primarily due to the inclusion of Barnes & Noble Education’s results after Immersion acquired a 32.3% stake in June 2024. Immersion’s standalone royalty and license revenue amounted to $8.4 million, while Barnes & Noble Education contributed $423.2 million in product and other revenue, along with $43.2 million in rental income. The company reported GAAP net income of $15.5 million, or $0.47 per diluted share, and on a non-GAAP basis, net income was $20.8 million, or $0.63 per share. Immersion also declared a quarterly dividend of $0.045 per share, payable on April 25 to shareholders of record as of April 14. These developments reflect the company’s strong financial performance in the quarter.

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