B.Riley FBR analyst Eric Wold reiterated a Buy rating on Xperi Corporation (XPER) today and set a price target of $30. The company’s shares closed yesterday at $22.56, close to its 52-week high of $24.25.
Wold said:
“Xperi Corporation (XPER) is scheduled to report 4Q18 results after the close on a call at 5:00PM ET. We are comfortable with our 4Q18 billings and EBITDA estimates and see more of an upside bias given the mid-December guidance update. While we expect management to take a somewhat conservative stance with initial 2019 guidance, we believe the recent Broadcom and Samsung license wins should boost the opportunity for additional greenfield IP license wins during the year (which would be incremental to our estimates and likely to guidance as well). In our 11/26/18 research note, we argued that the then-current valuation for XPER not only included a near-zero probability of a Samsung license, but also was essentially providing the entire IP licensing operations for free.”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.2% and a 37.6% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xperi Corporation with a $29.33 average price target.
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Xperi Corp. is a product and technology licensing company, which manufactures semiconductors and related products. It operates through Product Licensing and Semiconductor and IP Licensing segments. The Product Licensing segment is comprised of Audio and Imaging businesses of the company, which it licenses through the brands DTS, HD Radio and FotoNation.
