Rubric Capital Management LP Has $34.02 Million Stake in Xperi Inc. (NASDAQ:XPER)

Rubric Capital Management LP boosted its position in Xperi Inc. (NASDAQ:XPER) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,143,744 shares of the semiconductor company’s stock after buying an additional 100,000 shares during the period. Rubric Capital Management LP owned approximately 9.05% of Xperi worth $34,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Xperi by 66.9% in the second quarter. Harbor Capital Advisors Inc. now owns 8,523 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 3,416 shares in the last quarter. MQS Management LLC bought a new stake in shares of Xperi during the first quarter worth about $185,000. State Board of Administration of Florida Retirement System increased its position in shares of Xperi by 40.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,080 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 4,910 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Xperi during the second quarter worth about $141,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Xperi by 409.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,028 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 18,508 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BWS Financial reissued a “top pick” rating and set a $30.00 target price on shares of Xperi in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Xperi in a report on Tuesday, August 6th. Craig Hallum cut their price target on shares of Xperi from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, StockNews.com cut shares of Xperi from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Xperi presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Insider Buying and Selling

In other news, CEO Jon Kirchner bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $8.65 per share, with a total value of $43,250.00. Following the acquisition, the chief executive officer now owns 523,692 shares of the company’s stock, valued at approximately $4,529,935.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David C. Habiger purchased 5,750 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $8.68 per share, with a total value of $49,910.00. Following the acquisition, the director now directly owns 68,205 shares of the company’s stock, valued at $592,019.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jon Kirchner purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $43,250.00. Following the acquisition, the chief executive officer now directly owns 523,692 shares in the company, valued at $4,529,935.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 13,600 shares of company stock valued at $117,948. Company insiders own 1.70% of the company’s stock.

Xperi Stock Performance

Shares of XPER stock opened at $8.97 on Friday. The stock has a market capitalization of $404.98 million, a P/E ratio of -3.30 and a beta of 1.57. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $8.17 and its 200 day moving average is $9.11. Xperi Inc. has a 12 month low of $6.89 and a 12 month high of $12.29.

Xperi (NASDAQ:XPER) last announced its quarterly earnings results on Monday, August 5th. The semiconductor company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.13. The company had revenue of $119.59 million for the quarter, compared to analysts’ expectations of $118.95 million. Xperi had a negative net margin of 21.67% and a negative return on equity of 10.15%. On average, sell-side analysts anticipate that Xperi Inc. will post -0.83 earnings per share for the current year.

About Xperi

Xperi Inc operates as a consumer and entertainment technology company worldwide. It offers Pay-TV solutions, including UX solutions that allows service providers to customize elements of the interactive program guide for their customers and to upgrade the programming features and services; IPTV, a cloud-based solution that supports various services and applications, such as TV programming, broadband OTT video content, digital music, photos, and other media experiences; managed IPTV service; video metadata and services; managed IPTV Service, a customizable, cloud-enabled, and end-to-end streaming video solution that enables operators to quickly launch a branded, fully compliant, full-featured Pay-TV service; metadata libraries comprising television, sports, movies, digital-first, celebrities, books, and video games; personalized content discovery, natural language voice, and insights; and TiVo DVR subscriptions, as well as technical support service.