Xperi (NYSE:XPER) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen lowered Xperi from a “strong-buy” to a “buy,” adding to a mixed analyst picture that currently leaves the stock with a consensus Hold rating and an average target price of $11.00.
• Xperi shares were up 2.1% and opened at $7.57; the stock remains well below its 12-month high of $8.75 but above its 12-month low of $5.07.
• The company recently beat quarterly expectations, reporting EPS of $0.23 versus $0.15 expected and revenue of $114.21 million versus $107.89 million expected.

Xperi (NYSE:XPER - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xperi in a research note on Friday, May 29th. Zacks Research upgraded shares of Xperi from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Finally, BWS Financial reissued a "buy" rating and set a $12.00 target price on shares of Xperi in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Xperi presently has a consensus rating of "Hold" and a consensus target price of $11.00.

Xperi Stock Up 2.1%

XPER stock opened at $7.57 on Friday. The company has a market capitalization of $365.16 million, a P/E ratio of -7.64 and a beta of 1.42. Xperi has a 12 month low of $5.07 and a 12 month high of $8.75. The firm's fifty day simple moving average is $7.79 and its 200-day simple moving average is $6.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.36 and a quick ratio of 2.36.

Xperi (NYSE:XPER - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.08. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $107.89 million. Xperi had a negative net margin of 10.22% and a positive return on equity of 1.09%. As a group, equities research analysts forecast that Xperi will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Xperi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Xperi by 285.3% during the first quarter. AQR Capital Management LLC now owns 62,375 shares of the company's stock worth $482,000 after purchasing an additional 46,186 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Xperi by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,559,490 shares of the company's stock worth $12,039,000 after purchasing an additional 17,984 shares during the last quarter. Creative Planning purchased a new position in Xperi in the 2nd quarter valued at about $135,000. Rhumbline Advisers lifted its stake in Xperi by 39.1% in the 2nd quarter. Rhumbline Advisers now owns 97,679 shares of the company's stock valued at $773,000 after buying an additional 27,439 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Xperi by 9.0% in the 2nd quarter. American Century Companies Inc. now owns 117,181 shares of the company's stock worth $927,000 after buying an additional 9,668 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

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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