Immersion Corp Buys New Shares in Xperi Inc. $XPER

Key Points

• Immersion Corp has invested approximately $2.68 million in Xperi Inc, acquiring 347,441 shares, which accounts for about 1.6% of Immersion's investment portfolio.
• Various institutional investors have increased their stakes in Xperi, with Royce & Associates LP investing around $3 million in the first quarter.
• Wall Street analysts have a generally positive outlook on Xperi, with a current average rating of "Buy" and a target price of around $13.50.

Immersion Corp purchased a new position in Xperi Inc. (NASDAQ:XPER - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 347,441 shares of the semiconductor company's stock, valued at approximately $2,682,000. Xperi makes up about 1.6% of Immersion Corp's portfolio, making the stock its 6th biggest holding. Immersion Corp owned approximately 0.76% of Xperi as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in Xperi by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 29,115 shares of the semiconductor company's stock worth $299,000 after buying an additional 6,197 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Xperi during the fourth quarter worth $658,000. Dimensional Fund Advisors LP grew its position in Xperi by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,477,350 shares of the semiconductor company's stock worth $15,172,000 after buying an additional 43,576 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Xperi by 21.0% during the fourth quarter. MetLife Investment Management LLC now owns 33,369 shares of the semiconductor company's stock valued at $343,000 after purchasing an additional 5,797 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Xperi in the fourth quarter valued at approximately $599,000. 94.28% of the stock is owned by institutional investors.

Xperi Price Performance

Shares of Xperi stock traded up $0.02 on Wednesday, reaching $5.89. 545,698 shares of the company traded hands, compared to its average volume of 363,456. The firm has a market capitalization of $272.24 million, a PE ratio of -3.10 and a beta of 1.26. The company has a 50 day moving average of $6.84 and a 200 day moving average of $7.42. Xperi Inc. has a 52 week low of $5.68 and a 52 week high of $11.07.

Wall Street Analysts Forecast Growth

Several analysts have commented on XPER shares. BWS Financial cut shares of Xperi from a "strong-buy" rating to a "moderate buy" rating and dropped their target price for the company from $30.00 to $12.00 in a research report on Tuesday, July 29th. Rosenblatt Securities restated a "buy" rating and set a $15.00 price objective on shares of Xperi in a research report on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Xperi from a "hold" rating to a "buy" rating in a report on Saturday, May 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Xperi presently has a consensus rating of "Buy" and a consensus price target of $13.50.

Xperi Profile

Xperi Inc operates as a consumer and entertainment technology company worldwide. It offers Pay-TV solutions, including UX solutions that allows service providers to customize elements of the interactive program guide for their customers and to upgrade the programming features and services; IPTV, a cloud-based solution that supports various services and applications, such as TV programming, broadband OTT video content, digital music, photos, and other media experiences; managed IPTV service; video metadata and services; managed IPTV Service, a customizable, cloud-enabled, and end-to-end streaming video solution that enables operators to quickly launch a branded, fully compliant, full-featured Pay-TV service; metadata libraries comprising television, sports, movies, digital-first, celebrities, books, and video games; personalized content discovery, natural language voice, and insights; and TiVo DVR subscriptions, as well as technical support service.