Xperi Inc. $XPER Stock: Assenagon Asset Management S.A. Reduces Position

Key Points

• Assenagon Asset Management cut its Xperi stake by 67% in the third quarter, selling 262,352 shares and retaining 128,993 shares worth approximately $711,000. Institutional investors collectively own 94.28% of Xperi.
• Analyst sentiment is mixed: two analysts rate Xperi a Buy, one a Hold and one a Sell. The consensus rating is Hold, with an average price target of $11.00.
• Xperi recently exceeded quarterly expectations, reporting $0.28 in adjusted earnings per share versus a $0.21 consensus estimate and revenue of $114.49 million. However, the stock opened at $5.19, near its one-year low of $4.91, while the company posted a negative net margin.

Assenagon Asset Management S.A. decreased its position in shares of Xperi Inc. (NYSE:XPER - Free Report) by 67.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,993 shares of the company's stock after selling 262,352 shares during the period. Assenagon Asset Management S.A. owned 0.26% of Xperi worth $711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Xperi by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,092,416 shares of the company's stock valued at $25,451,000 after acquiring an additional 613,428 shares during the period. TSP Capital Management Group LLC boosted its stake 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 purchasing an additional 601,396 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Xperi during the 1st quarter worth $2,313,000. Wellington Management Group LLP grew its position in Xperi by 11.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,483,786 shares of the company's stock worth $20,442,000 after purchasing an additional 255,082 shares during the last quarter. Finally, Waterfront Wealth Inc. grew 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. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Ratings Changes

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

Xperi Stock Performance

Shares of XPER opened at $5.19 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.48 and a current ratio of 2.48. The stock has a market capitalization of $253.32 million, a P/E ratio of -7.42 and a beta of 1.40. The company's fifty day moving average is $5.65 and its two-hundred day moving average is $6.79. Xperi Inc. has a 1 year low of $4.91 and a 1 year high of $8.75.

Xperi (NYSE:XPER - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. Xperi had a negative net margin of 7.12% and a positive return on equity of 4.04%. The company had revenue of $114.49 million during the quarter, compared to analysts' expectations of $112.66 million. On average, sell-side analysts predict that Xperi Inc. will post 0.53 earnings per share for the current year.

Xperi Profile

Xperi Inc develops and licenses technologies that improve how consumers discover, access and experience entertainment. The company serves the connected television, automotive, consumer electronics and media industries through a portfolio of products and services focused on entertainment software, audio, broadcast technology and content discovery.

Xperi's brands include TiVo, which provides connected television platforms, entertainment guides, discovery tools and advertising solutions; DTS, which develops audio and imaging technologies for home theaters, vehicles, televisions and other devices; and HD Radio, a digital radio technology used by broadcasters and automakers.

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