The Manufacturers Life Insurance Company Acquires 613,428 Shares of Xperi Inc. $XPER

The Manufacturers Life Insurance Company raised its stake in Xperi Inc. (NYSE:XPER - Free Report) by 24.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,092,416 shares of the company's stock after acquiring an additional 613,428 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 6.34% of Xperi worth $25,451,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in XPER. Segall Bryant & Hamill LLC bought a new stake in shares of Xperi during the first quarter worth about $2,313,000. Immersion Corp increased its holdings in Xperi by 69.3% in the fourth quarter. Immersion Corp now owns 1,863,435 shares of the company's stock valued at $10,920,000 after purchasing an additional 762,911 shares during the period. Waterfront Wealth Inc. raised its position in Xperi by 24.7% during the 1st quarter. Waterfront Wealth Inc. now owns 617,115 shares of the company's stock worth $3,456,000 after purchasing an additional 122,168 shares during the last quarter. TSP Capital Management Group LLC lifted its holdings in Xperi by 273.5% during the 1st quarter. TSP Capital Management Group LLC now owns 821,294 shares of the company's stock worth $4,599,000 after buying an additional 601,396 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Xperi by 47.3% in the first quarter. Assenagon Asset Management S.A. now owns 716,784 shares of the company's stock valued at $4,014,000 after buying an additional 230,189 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Xperi Stock Down 1.3%

XPER stock opened at $6.07 on Friday. The stock has a market cap of $296.03 million, a P/E ratio of -8.67 and a beta of 1.43. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.10. The stock's fifty day simple moving average is $7.39 and its two-hundred day simple moving average is $6.85. Xperi Inc. has a 1-year low of $5.07 and a 1-year high of $8.75.

Xperi (NYSE:XPER - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.07. The firm had revenue of $114.49 million during the quarter, compared to analyst estimates of $112.66 million. Xperi had a positive return on equity of 4.04% and a negative net margin of 7.12%. Analysts expect that Xperi Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

XPER has been the subject of several analyst reports. Wall Street Zen lowered shares of Xperi from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. BWS Financial reissued a "buy" rating and issued a $12.00 price objective on shares of Xperi in a research report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Xperi in a report on Friday, May 29th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $10.00 price objective on shares of Xperi in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.00.

About Xperi

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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