The Manufacturers Life Insurance Company Boosts Stake in Xperi Inc. $XPER

The Manufacturers Life Insurance Company raised its stake in shares of Xperi Inc. (NYSE:XPER) by 24.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,092,416 shares of the company’s stock after buying an additional 613,428 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Xperi worth $25,451,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of XPER. Integrated Wealth Concepts LLC purchased a new stake in shares of Xperi in the second quarter valued at $30,000. California State Teachers Retirement System boosted its stake in shares of Xperi by 112.1% during the second quarter. California State Teachers Retirement System now owns 5,210 shares of the company’s stock valued at $43,000 after acquiring an additional 2,754 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Xperi during the 3rd quarter worth about $57,000. Sei Investments Co. acquired a new position in Xperi in the 1st quarter valued at about $58,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Xperi in the 4th quarter valued at about $69,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Xperi Stock Up 2.9%

Shares of NYSE:XPER opened at $5.87 on Friday. 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 has a market cap of $286.47 million, a price-to-earnings ratio of -8.39 and a beta of 1.39. The stock’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $6.87. Xperi Inc. has a 12-month low of $5.07 and a 12-month high of $8.75.

Xperi (NYSE:XPER) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. The company had revenue of $114.49 million during the quarter, compared to the consensus estimate of $112.66 million. Xperi had a negative net margin of 7.12% and a positive return on equity of 4.04%. On average, research analysts forecast that Xperi Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPER. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xperi in a report on Wednesday, August 26th. BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Xperi in a research report on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of Xperi in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded Xperi from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Two equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.