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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