Assenagon Asset Management S.A. Cuts Stock Holdings in Xperi Inc. $XPER

Key Points

• Assenagon Asset Management cut its Xperi stake by 45.4% in the second quarter, selling 325,439 shares and retaining 391,345 shares worth approximately $3.22 million. Institutional investors collectively own 94.28% of Xperi.
• Analyst sentiment is mixed, with ratings ranging from sell to buy; the stock carries an overall “Hold” rating and an average price target of $11.00.
• Xperi recently exceeded quarterly expectations, reporting adjusted EPS of $0.28 versus a $0.21 estimate and revenue of $114.49 million. Shares opened at $6.57, while the company continues to have negative net margins.

Assenagon Asset Management S.A. lowered its holdings in Xperi Inc. (NYSE:XPER - Free Report) by 45.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 391,345 shares of the company's stock after selling 325,439 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.81% of Xperi worth $3,221,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Xperi by 285.3% in the first quarter. AQR Capital Management LLC now owns 62,375 shares of the company's stock worth $482,000 after buying an additional 46,186 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Xperi by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,559,490 shares of the company's stock valued at $12,039,000 after acquiring an additional 17,984 shares during the period. Creative Planning purchased a new position in shares of Xperi in the 2nd quarter valued at $135,000. Rhumbline Advisers raised its position in shares of Xperi by 39.1% in the 2nd quarter. Rhumbline Advisers now owns 97,679 shares of the company's stock worth $773,000 after acquiring an additional 27,439 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Xperi by 9.0% during the 2nd quarter. American Century Companies Inc. now owns 117,181 shares of the company's stock worth $927,000 after purchasing an additional 9,668 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XPER. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xperi in a research note on Friday, May 29th. Zacks Research upgraded shares of Xperi from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Xperi from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price objective on shares of Xperi in a research note on Thursday, August 6th. Finally, BWS Financial reissued a "buy" rating and set a $12.00 target price on shares of Xperi in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $11.00.

Xperi Stock Performance

Shares of Xperi stock opened at $6.57 on Friday. The company has a 50 day moving average price of $7.67 and a 200 day moving average price of $6.80. The firm has a market capitalization of $320.24 million, a P/E ratio of -9.38 and a beta of 1.43. The company has a quick ratio of 2.36, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. Xperi Inc. has a 52 week low of $5.07 and a 52 week high of $8.75.

Xperi (NYSE:XPER - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.07. The company had revenue of $114.49 million for the quarter, compared to the consensus estimate of $112.66 million. Xperi had a negative net margin of 7.12% and a positive return on equity of 4.04%. Sell-side analysts expect that Xperi Inc. will post 0.34 EPS for the current year.

Xperi Profile

Xperi Inc NYSE: XPER is a global technology company that develops and licenses audio, imaging and semiconductor packaging solutions. The company was formed in 2016 through the spin-off of Tessera Technologies' product divisions and expanded its product portfolio in 2019 with the acquisition of TiVo Corporation. Headquartered in San Jose, California, Xperi's technologies underpin a range of consumer electronics, automotive, mobile and broadcast products around the world.

In its technology licensing segment, Xperi offers a broad portfolio of semiconductor packaging and interconnect solutions designed to improve performance and energy efficiency in chips and devices.

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