|Over a week ago|
Xperi raises Q1 billings outlook to $108M-$110M from $100M-$104M » 08:1303/1003/10/20
"In addition to…
"In addition to raising our first quarter billings outlook today, we have improved visibility in our 2020 billings outlook for the IP licensing business as we have eliminated any uncontracted IP billings risk for the remainder of the year," said Robert Andersen, CFO of Xperi.
Xperi announces settlement of Toshiba litigation » 08:0603/1003/10/20
XPER, TOSBF, TOSYY
Xperi (XPER) announced…
Xperi (XPER) announced that it reached an agreement with Toshiba (TOSBF,TOSYY) to settle and dismiss the pending litigation between Tessera, Inc. and Toshiba. The terms and conditions of the settlement agreement are confidential.
|Over a month ago|
Fly Intel: Pre-market Movers » 09:0102/2402/24/20
XPER, TIVO, SENS, NNVC, NEM, BRK.A, BRK.B, INTU, WFC, GS
HIGHER: Xperi (XPER), up…
HIGHER: Xperi (XPER), up 4% after announcing that it has received an unsolicited, non-binding proposal from Metis Ventures to acquire all of the outstanding equity of the company for $23.30 per share in cash. Xperi entered into a definitive agreement with TiVo (TIVO) to combine in an all-stock transaction, pursuant to which, at the close of the transaction, Xperi stockholders would own approximately 46.5% of the combined business, and TiVo stockholders would own approximately 53.5% of the combined business. Xperi's board determined that it is unable to conclude at this time that Metis Ventures' non-binding proposal is reasonably likely to lead to a superior proposal under the terms of Xperi's merger agreement with TiVo. Therefore, Xperi will not be engaging in discussions with Metis Ventures... Senseonics (SENS), up 11% after George Soros' Soros Fund Management disclosed that the firm holds a 5.09% passive stake in the company... NanoViricides (NNVC), up 33% after announcing it has sufficient funding for its planned expenditures for the ensuing year, based on estimated budgets including costs of certain clinical trials.... Newmont (NEM), up 4% after CIBC analyst Anita Soni upgraded shares to Outperformer from Neutral. DOWN AFTER EARNINGS: Berkshire Hathaway (BRK.B), down 3%. ALSO LOWER: Intuit (INTU), down 2% after The Wall Street Journal reported the company is nearing a deal to buy Credit Karma for about $7B in cash and stock... Wells Fargo (WFC), down 2% after announcing that it has entered into agreements with the United States Department of Justice and the SEC to resolve these agencies' investigations into the company's historical Community Bank sales practices and related disclosures. As part of this resolution, Wells Fargo has agreed to make payments totaling $3B... Goldman Sachs (GS), down 3% after Reuters reported three of the bank's units pleaded not guilty to charges of misleading investors regarding $6.5B in bond sales that the U.S. investment bank helped raise for state fund 1MDB.
Xperi worth 55% more than Metis takeover proposal, says B. Riley FBR » 08:5102/2402/24/20
The unsolicited, nonbinding takeover proposal from Metis Ventures for $23.30 per share in cash "meaningfully undervalues" Xperi's (XPER) growth opportunity, even before the "attractive" TiVo (TIVO) merger is considered, B. Riley FBR analyst Eric Wold tells investors in a research note. The analyst reiterates a Buy rating on Xperi with a standalone price target of $36. The target represents a 55% premium to the proposal from Metis Ventures, Wold points out.
Xperi receives unsolicited non-binding proposal from Metis Ventures » 05:1302/2402/24/20
Xperi (XPER) announced…
Xperi (XPER) announced that it has received an unsolicited, non-binding proposal from Metis Ventures LLC to acquire all of the outstanding equity of Xperi for $23.30 per share in cash. Xperi had previously announced (on December 19, 2019) that it had entered into a definitive agreement with TiVo (TIVO) to combine in an all-stock transaction, pursuant to which, at the close of the transaction, Xperi stockholders would own approximately 46.5% of the combined business, and TiVo stockholders would own approximately 53.5% of the combined business. After a comprehensive review and discussion of Metis Ventures' proposal conducted in consultation with its financial and legal advisors, Xperi's board of directors has unanimously determined that, based on the current non-binding terms and conditions, as well as lack of information, it is unable to conclude at this time that Metis Ventures' non-binding proposal is reasonably likely to lead to a Superior Proposal under the terms of Xperi's merger agreement with TiVo. Therefore, Xperi will not be engaging in discussions with Metis Ventures and does not intend to make any further comment at this time. Xperi reiterates its continued support and enthusiasm for its pending transaction with TiVo and its view that the definitive agreement with TiVo remains in the best interests of Xperi and its stockholders. Accordingly, Xperi's board of directors continues to recommend the merger agreement with TiVo to its stockholders. Xperi's board of directors is not modifying or withdrawing its recommendation with respect to the TiVo merger agreement and the merger, or proposing to do so.
TiVo price target raised to $21 from $19 at B. Riley FBR » 08:5402/1902/19/20
B. Riley FBR analyst Eric…
B. Riley FBR analyst Eric Wold raised the firm's price target on TiVo to $21 from $19 and reiterates a Buy rating on the shares. The company last night reported Q4 results that exceeded revenue and adjusted EBITDA expectations, with the upside driven by improving core revenue run-rates within both the intellectual property licensing and product segments coupled with continued expense reduction success, Wold tells investors in a research note. The analyst believes the pro forma TiVo/Xperi (XPER) projections provide a "clear demonstration of the attractiveness and synergistic potential of the proposed merger."
Xperi price target raised to $36 from $28 at B. Riley FBR » 08:4202/1902/19/20
B. Riley FBR analyst Eric…
B. Riley FBR analyst Eric Wold raised the firm's price target on Xperi (XPER) to $36 from $28 and reiterates a Buy rating on the shares. The company last night reported Q4 results that exceeded expectations for both billings and EBITDA, Wold tells investors in a research note. The analyst is increasingly positive around the synergies to come from the proposed TiVo (TIVO) merger and believes the pro forma projections are achievable given improving underlying revenue run-rates at the two companies.
Fly Intel: After Hours Movers » 19:0502/1802/18/20
QUAD, SSTI, ENPH, HLF, SCPL, LZB, RPAI, XPER, FANG, DVN, TPH, TIVO, BBBY, GRPN, KNL, SGMS, APRN, AMED, BKD, TXG, LC, PLMR, BLUE, HSTM, KAR
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Quad/Graphics (QUAD) up 25.0%... ShotSpotter (SSTI) up 20.1%... Enphase Energy (ENPH) up 11.8%... Herbalife (HLF) up 5.8%... SciPlay (SCPL) up 4.7%... La-Z-Boy (LZB) up 4.6%... Retail Properties of America (RPAI) up 3.0%... Xperi (XPER) up 2.5%... Diamondback Energy (FANG) up 1.9%... Devon Energy (DVN) up 1.9%... TriPointe Group (TPH) up 1.9%... TiVo (TIVO) up 1.5%. ALSO HIGHER: Bed Bath Beyond (BBBY) up 4.0% after guiding FY20 capital allocation. DOWN AFTER EARNINGS: Groupon (GRPN) down 24.9%... Knoll (KNL) down 13.6%... Scientific Games (SGMS) down 10.5%... Blue Apron (APRN) down 9.8%... Amedisys (AMED) down 9.0%... Brookdale Senior Living (BKD) down 6.4%... 10X Genomics (TXG) down 5.1%... LendingClub (LC) down 2.8%... Palomar (PLMR) down 2.8%... bluebird bio (BLUE) down 2.0%... HealthStream (HSTM) down 1.4%... KAR Auction Services (KAR) down 1.4%. Movers as of 18:30ET.
Xperi sees Q1 billings $100M-$104M » 16:2202/1802/18/20
Sees fiscal 2020 billings…
Sees fiscal 2020 billings $400M-$420M.
Xperi reports Q4 billings $126.7M vs. $141.8M last year » 16:2102/1802/18/20
The company said,…
The company said, "Xperi finished 2019 on a strong note, delivering better than expected results for the fourth quarter and generating record operating cash flow for the full year as we remained focused on execution across our business. We recently reached a significant milestone in the development of a new machine learning hardware and software platform, which is now being sampled by prospective customers. We also announced our planned merger with TiVo Corporation, which we believe will unlock significant value for our shareholders. Finally, along with the TiVo integration planning, we continue to make strategic progress on key initiatives in our IP and product businesses and are confident in our long-term growth and value creation prospects."