Wellington Management Group LLP Purchases 255,082 Shares of Xperi Inc. $XPER

Key Points

• Wellington Management increased its Xperi stake by 11.4%, purchasing 255,082 additional shares to hold 2.48 million shares, or 5.09% of the company. Institutional investors collectively own 94.28% of Xperi.
• Xperi exceeded quarterly expectations, reporting adjusted EPS of $0.28 versus the $0.21 consensus and revenue of $114.49 million, above estimates of $112.66 million.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $11.00, compared with the stock’s recent price of $5.80.

Wellington Management Group LLP boosted its position in Xperi Inc. (NYSE:XPER - Free Report) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,483,786 shares of the company's stock after purchasing an additional 255,082 shares during the period. Wellington Management Group LLP owned 5.09% of Xperi worth $20,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Xperi during the 3rd quarter worth approximately $57,000. Sei Investments Co. bought a new position in shares of Xperi during the first quarter valued at $58,000. Endeavor Private Wealth Inc. bought a new position in shares of Xperi during the fourth quarter valued at $69,000. Alpine Global Management LLC acquired a new position in shares of Xperi during the fourth quarter worth $89,000. Finally, Tactive Advisors LLC lifted its holdings in shares of Xperi by 59.3% during the first quarter. Tactive Advisors LLC now owns 16,270 shares of the company's stock worth $91,000 after purchasing an additional 6,055 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Xperi Stock Performance

Shares of XPER opened at $5.80 on Monday. 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 firm's fifty day simple moving average is $7.15 and its two-hundred day simple moving average is $6.87. Xperi Inc. has a 12 month low of $5.07 and a 12 month high of $8.75. The stock has a market capitalization of $282.87 million, a P/E ratio of -8.29 and a beta of 1.39.

Xperi (NYSE:XPER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 positive return on equity of 4.04% and a negative net margin of 7.12%. As a group, analysts predict that Xperi Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on XPER shares. Weiss Ratings restated a "sell (d-)" rating on shares of Xperi in a report on Wednesday, August 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $10.00 price target on shares of Xperi in a research report on Thursday, August 6th. Wall Street Zen downgraded Xperi from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Xperi in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.00.

Xperi Company 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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