BWS Financial Names Xperi Its Top Pick Following Vewd Software Acquisition

BWS Financial analyst Hamed Khorsand rated Xperi Holding Corp XPER as a Top Pick, reiterating its Buy rating with a price target of $26.
He saw Xperi accelerating its presence within connected TVs with the acquisition of Vewd Software.
Two weeks after XPER raised guidance for cash flow from operations, the Company is putting its cash to work by acquiring technology to further its connected TV operating system (TVOS).
Vewd Software is a middleware developer installed in more than 450 million connected TVs and devices.
XPER is paying $109 million by using $59 million of its cash balance and $50 million in a seller’s note for the business projected in bankruptcy court filings to generate $33 million in revenue in 2022 and $37 million in 2023.
The synergistic value of Vewd could be revealed to shareholders in the next 12 to 18 months when XPER begins to monetize Vewd’s install base.
Additionally, any faster improvement of having a TVOS on the market would be materially positive to XPER.
Price Action: XPER shares traded lower by 3.67% at $14.42 on the last check Wednesday.

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