Xperi (NASDAQ:XPER) Stock Rating Lowered by Zacks Investment Research

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Xperi (NASDAQ:XPER) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Sunday, Zacks.com reports.

According to Zacks, “Xperi Corp. is a product and technology licensing company which manufactures semiconductors and related products. Its technologies and intellectual property are deployed, in areas such as premium audio, computational imaging, computer vision, mobile computing and communications, memory, data storage, 3D semiconductor interconnect and packaging. Xperi Corporation, formerly known as Tessera Holding Corporation, is headquartered in San Jose, CA. “

XPER has been the subject of a number of other research reports. Royal Bank of Canada raised their price objective on shares of NVIDIA to $200.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. ValuEngine downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. B. Riley restated a “buy” rating on shares of RumbleON in a report on Tuesday, July 2nd. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, National Securities restated a “buy” rating and set a $35.00 price objective on shares of Calyxt in a report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

XPER opened at $20.87 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.46 and a quick ratio of 8.46. The firm’s 50-day moving average price is $20.52. Xperi has a fifty-two week low of $12.08 and a fifty-two week high of $25.84. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.42 and a beta of 0.36.

Xperi (NASDAQ:XPER) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Xperi had a net margin of 1.92% and a return on equity of 20.08%. The company had revenue of $104.30 million for the quarter, compared to analyst estimates of $104.00 million. As a group, analysts predict that Xperi will post 1.97 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in shares of Xperi by 50.0% in the first quarter. Penserra Capital Management LLC now owns 2,478 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 826 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Xperi in the first quarter worth about $227,000. Millennium Management LLC increased its stake in shares of Xperi by 121.4% in the fourth quarter. Millennium Management LLC now owns 376,332 shares of the semiconductor company’s stock worth $6,921,000 after purchasing an additional 206,347 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Xperi by 14.9% in the first quarter. California Public Employees Retirement System now owns 149,472 shares of the semiconductor company’s stock worth $3,498,000 after purchasing an additional 19,394 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Xperi in the first quarter worth about $248,000. Hedge funds and other institutional investors own 96.91% of the company’s stock.

Xperi Company Profile

Xperi Corporation, through its subsidiaries, creates, develops, and licenses audio, imaging, semiconductor packaging, and interconnect technologies in the United States, South Korea, Taiwan, Japan, Europe, the Middle East, and internationally. The company operates in two segments, Product Licensing; and Semiconductor and IP Licensing.

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