The Manufacturers Life Insurance Company Sells 29,590 Shares of Xperi Inc. (NASDAQ:XPER)

The Manufacturers Life Insurance Company trimmed its holdings in Xperi Inc. (NASDAQ:XPER) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,757,697 shares of the semiconductor company’s stock after selling 29,590 shares during the quarter. The Manufacturers Life Insurance Company owned about 3.89% of Xperi worth $14,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Xperi by 703.2% during the second quarter. Millennium Management LLC now owns 592,415 shares of the semiconductor company’s stock valued at $4,864,000 after buying an additional 518,661 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Xperi by 60.0% during the second quarter. Squarepoint Ops LLC now owns 166,379 shares of the semiconductor company’s stock valued at $1,366,000 after acquiring an additional 62,367 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Xperi in the 2nd quarter worth about $534,000. DRW Securities LLC bought a new position in Xperi in the 2nd quarter worth about $149,000. Finally, ProShare Advisors LLC purchased a new stake in Xperi during the 2nd quarter valued at about $48,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Xperi Stock Down 1.1 %

Shares of Xperi stock opened at $8.92 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.14. Xperi Inc. has a twelve month low of $6.89 and a twelve month high of $12.29. The company has a market cap of $408.63 million, a price-to-earnings ratio of -3.28 and a beta of 1.57. The company’s 50 day moving average is $8.35 and its 200 day moving average is $8.99.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Xperi

In other Xperi news, CEO Jon Kirchner acquired 5,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $43,250.00. Following the purchase, the chief executive officer now directly owns 523,692 shares of the company’s stock, valued at $4,529,935.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Xperi news, Director David C. Habiger acquired 5,750 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $8.68 per share, with a total value of $49,910.00. Following the transaction, the director now directly owns 68,205 shares in the company, valued at approximately $592,019.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jon Kirchner acquired 5,000 shares of Xperi stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $8.65 per share, with a total value of $43,250.00. Following the completion of the purchase, 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. Insiders bought a total of 13,600 shares of company stock worth $117,948 in the last three months. 1.70% of the stock is currently owned by company insiders.

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.