Magnetar Financial LLC Buys Shares of 48,994 Xperi Inc. $XPER

Key Points

• Magnetar Financial LLC acquired approximately 48,994 shares of Xperi Inc. during the first quarter, representing a new investment valued at around $378,000.
• Institutional investors collectively own 94.28% of Xperi's stock, with significant increases in holdings reported by several firms, including Wells Fargo and Dimensional Fund Advisors.
• Xperi's stock currently has a consensus rating of "Buy" with a price target ranging from $12.00 to $15.00, reflecting varied analyst opinions.

Magnetar Financial LLC purchased a new position in shares of Xperi Inc. (NASDAQ:XPER - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,994 shares of the semiconductor company's stock, valued at approximately $378,000. Magnetar Financial LLC owned about 0.11% of Xperi as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Royce & Associates LP purchased a new position in shares of Xperi during the first quarter worth approximately $3,036,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Xperi by 35.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 804,956 shares of the semiconductor company's stock worth $6,214,000 after purchasing an additional 208,709 shares during the period. Wellington Management Group LLP lifted its stake in Xperi by 11.0% in the first quarter. Wellington Management Group LLP now owns 2,091,742 shares of the semiconductor company's stock worth $16,148,000 after purchasing an additional 207,810 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Xperi during the fourth quarter valued at about $1,577,000. Finally, Two Sigma Investments LP purchased a new stake in Xperi during the fourth quarter valued at about $1,340,000. 94.28% of the stock is currently owned by institutional investors.

Xperi Trading Up 1.8%

Xperi stock traded up $0.11 during mid-day trading on Friday, hitting $6.13. The company had a trading volume of 422,009 shares, compared to its average volume of 363,333. Xperi Inc. has a 12 month low of $5.68 and a 12 month high of $11.07. The company has a market capitalization of $283.53 million, a PE ratio of -3.23 and a beta of 1.26. The stock's 50 day moving average price is $6.80 and its two-hundred day moving average price is $7.40.

Wall Street Analysts Forecast Growth

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

About Xperi

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.