Xperi Corporation (XPER) Gets a Buy Rating from B.Riley FBR

By Carrie Williams

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Xperi Corporation (XPERResearch Report), with a price target of $30. The company’s shares closed yesterday at $19.36.

Wold said:

“After the close on Tuesday (8/6), Xperi Corporation (XPER) reported 2Q19 billings and EBITDA that came in above expectations as stronger-than-expected product license billings and reduced operating expenses drove the quarterly upside—and played into management raising operating cash flow guidance for the year. While we acknowledge that the U.S./China trade tensions introduce some added uncertainty around near-term product licensing billings trends, with Broadcom and Samsung settlements/licenses secured, we continue to believe XPER is positioned for additional IP license wins in the coming quarters with the successful transition away from OSATs to manufacturers—and the company took the first step towards using these wins to their advantage by recently filing patent infringement litigation against NVIDIA.”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.3% and a 30.7% 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 Strong Buy with an average price target of $32.

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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 $25.08 million. In comparison, last year the company had a GAAP net loss of $28.26 million.

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Xperi Corp. engages in creating, developing and licensing innovative audio, imaging, semiconductor packaging and interconnect technologies. It operates through the following two segments: Product Licensing and Semiconductor & IP Licensing.