Xperi (NASDAQ:XPER) Price Target Cut to $28.00

Xperi (NASDAQ:XPER) had its target price reduced by analysts at B. Riley from $30.00 to $28.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 30.48% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded Xperi from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded Xperi from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 12th. Finally, ValuEngine downgraded Xperi from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.60.

NASDAQ:XPER traded up $0.12 during mid-day trading on Thursday, hitting $21.46. 291,300 shares of the company’s stock traded hands, compared to its average volume of 407,309. The company has a market capitalization of $1.05 billion, a P/E ratio of 8.65 and a beta of 0.34. The company has a fifty day moving average of $20.57 and a 200 day moving average of $20.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 7.58 and a current ratio of 7.58. Xperi has a twelve month low of $12.61 and a twelve month high of $25.84.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Xperi by 3.3% during the second quarter. BlackRock Inc. now owns 7,312,208 shares of the semiconductor company’s stock valued at $150,558,000 after acquiring an additional 231,013 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Xperi by 1.2% during the second quarter. Vanguard Group Inc. now owns 5,390,209 shares of the semiconductor company’s stock valued at $110,985,000 after acquiring an additional 62,614 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Xperi by 17.1% during the second quarter. Janus Henderson Group PLC now owns 3,205,717 shares of the semiconductor company’s stock valued at $66,006,000 after acquiring an additional 468,478 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Xperi by 91.0% during the second quarter. Renaissance Technologies LLC now owns 1,687,914 shares of the semiconductor company’s stock valued at $34,754,000 after acquiring an additional 804,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Xperi by 47.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,467,568 shares of the semiconductor company’s stock valued at $30,217,000 after acquiring an additional 470,533 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

About Xperi

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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