B.Riley FBR Thinks Xperi Corporation’s Stock is Going to Recover


B.Riley FBR analyst Eric Wold reiterated a Buy rating on Xperi Corporation (XPER) today and set a price target of $26. The company’s shares closed yesterday at $13.53, close to its 52-week low of $12.08.

Wold noted:

“After the close on Corporation (XPER) reported 3Q18 results that came in ahead of expectations for both billings and adjusted EPS—with the optimized cost structure helping to boost forward profitability. Along with a solid outlook for the product licensing division (especially around the automotive segment), we continue to believe XPER is making progress towards signing additional greenfield semiconductor IP licenses that should help boost investor confidence around management’s strategy to pivot the focus from OSATs to the broader reaching and more financially stable manufacturers.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.9% and a 48.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xperi Corporation with a $26 average price target.

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Based on Xperi Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $28.26 million. In comparison, last year the company had a GAAP net loss of $12.12 million.

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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.

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