347,441 Shares in Xperi Inc. $XPER Purchased by Immersion Corp

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 shares of Xperi Inc. (NASDAQ:XPER - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 347,441 shares of the semiconductor company's stock, valued at approximately $2,682,000. Xperi makes up 1.6% of Immersion Corp's investment portfolio, making the stock its 6th largest position. Immersion Corp owned 0.76% of Xperi as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Virtus Fund Advisers LLC acquired a new position in Xperi during the fourth quarter worth $43,000. BNP Paribas Financial Markets acquired a new position in Xperi during the fourth quarter worth $56,000. New York State Common Retirement Fund grew its position in shares of Xperi by 140.5% in the first quarter. New York State Common Retirement Fund now owns 8,900 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 5,200 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Xperi in the 1st quarter valued at $105,000. Finally, Corton Capital Inc. acquired a new stake in shares of Xperi in the 4th quarter valued at $127,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on XPER. Wall Street Zen upgraded shares of Xperi from a "hold" rating to a "buy" rating in a research report on Saturday, May 17th. BWS Financial downgraded shares of Xperi from a "strong-buy" rating to a "moderate buy" rating and decreased their price objective for the stock from $30.00 to $12.00 in a report on Tuesday, July 29th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $15.00 target price on shares of Xperi in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $13.50.

Xperi Stock Performance

Shares of Xperi stock traded up $0.04 during trading hours on Friday, hitting $6.06. The company's stock had a trading volume of 191,048 shares, compared to its average volume of 362,009. Xperi Inc. has a 12-month low of $5.68 and a 12-month high of $11.07. The business has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $7.40. The company has a market cap of $280.10 million, a PE ratio of -3.19 and a beta of 1.26.

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.