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


Xperi Corporation (NASDAQ: XPER) received a Buy rating and a $26 price target from B.Riley FBR analyst Eric Wold today. The company’s shares closed yesterday at $16.35, close to its 52-week low of $15.60.

Wold commented:

“We are initiating coverage of Xperi Corporation (XPER) with a Buy rating and a $26 PT. In our opinion, the acquisition of DTS, Inc. in December 2016 provides an attractive opportunity for Xperi to increasingly penetrate three key end markets within the product licensing segment with its audio and imaging solutions. However, we believe investor uncertainty regarding the company’s ability to license manufacturers in the semiconductor space (after pivoting away from OSATs and engaging in litigation with Samsung) has clouded the growth story and helped push XPER shares down 60%+ from their peak in early 2017.”

According to TipRanks.com, Wold is a 5-star analyst with an average return of 9.0% and a 57.8% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on Xperi Corporation is a Moderate Buy with an average price target of $26.

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Based on Xperi Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $33.02 million. In comparison, last year the company had a GAAP net loss of $39.06 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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