B.Riley FBR analyst Eric Wold reiterated a Buy rating on Xperi Corporation (NASDAQ: XPER) today and set a price target of $26. The company’s shares closed yesterday at $16.30, close to its 52-week low of $15.60.
Wold said:
“After the close on Corporation (XPER) reported 2Q18 results that included billings that were in line with expectations/guidance, but with EBITDA/EPS above expectations on lower operating expenses (due, in part, to quarterly timing shifts). While the company kept 2018 guidance unchanged with more importance placed on 4Q, management was increasingly optimistic around closing one of the greenfield IP license opportunities before the end of the year with multiple shots on goal that could push 2018 billings toward the midpoint or upper end of the guidance range.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 8.9% and a 58.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Xperi Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $26.
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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.
