Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

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Equity Bottom-Up

<ul>
<li>XPER reported new customer wins with the release of first quarter results. Continued expansion of XPER’s customer base in connected TV and cars affirms our thesis</li>
<li>XPER had already won a major TV OEM in Europe and has now won a second TV producer planning to use TiVo OS</li>
<li>XPER announced a global program design win with a Japanese automaker for DTS AutoStage</li>
</ul>


XPER reported new customer wins with the release of first quarter results. Continued expansion of XPER’s customer base in connected TV and cars affirms our thesis
XPER had already won a major TV OEM in Europe and has now won a second TV producer planning to use TiVo OS
XPER announced a global program design win with a Japanese automaker for DTS AutoStage


<ul>
<li>XPER reported fourth quarter results benefiting from an increase in IPTV subscribers on its TV platform and greater amount of ad impressions on its media platform.</li>
<li>XPER has been developing several products over the last three years that are beginning to gain traction with customers and showing up on the revenue line</li>
<li>The fourth quarter results affirmed there is demand for the software XPER has developed and it should become more apparent to investors on the profitability trajectory later this year</li>
</ul>


XPER reported fourth quarter results benefiting from an increase in IPTV subscribers on its TV platform and greater amount of ad impressions on its media platform.
XPER has been developing several products over the last three years that are beginning to gain traction with customers and showing up on the revenue line
The fourth quarter results affirmed there is demand for the software XPER has developed and it should become more apparent to investors on the profitability trajectory later this year


<ul>
<li>XPER used the CES event this year to make several news announcements, but the biggest news for XPER was the one released by Roku Inc. (ROKU).</li>
<li>The ROKU announcement causes TiVo being the only independent TV operating system. We believe this could result in XPER establishing greater market share for its TVOS than originally expected</li>
<li>During CES Verstel introduced a series of TVs under multiple brands that would use TiVo TVOS. Additionally, XPER revealed more automakers that are releasing car models with AutoSense and AutoStage</li>
</ul>


XPER used the CES event this year to make several news announcements, but the biggest news for XPER was the one released by Roku Inc. (ROKU).
The ROKU announcement causes TiVo being the only independent TV operating system. We believe this could result in XPER establishing greater market share for its TVOS than originally expected
During CES Verstel introduced a series of TVs under multiple brands that would use TiVo TVOS. Additionally, XPER revealed more automakers that are releasing car models with AutoSense and AutoStage


<ul>
<li>XPER reported third quarter results after becoming a separate operating business at the beginning of October</li>
<li>XPER is progressing in adding new customers for its different product lines with revenue expected to ramp in subsequent quarters</li>
<li>The third quarter did not have much in the form of surprises with XPER maintaining its full year guidance. </li>
</ul>


XPER reported third quarter results after becoming a separate operating business at the beginning of October
XPER is progressing in adding new customers for its different product lines with revenue expected to ramp in subsequent quarters
The third quarter did not have much in the form of surprises with XPER maintaining its full year guidance. 


<ul>
<li>Adeia (ADEA) spun out Xperi Inc. (XPER) to shareholders. We are updating our coverage by downgrading ADEA to Buy Rating from Top Pick, initiating coverage of XPER with Top Pick.</li>
<li>The separation of the two businesses should allow the markets to appropriately price each stock. This should lead to a higher overall valuation compared to when the companies were together.</li>
<li>XPER is our Top Pick due to the multiple revenue opportunities from new products over the next 12 months.</li>
</ul>


Adeia (ADEA) spun out Xperi Inc. (XPER) to shareholders. We are updating our coverage by downgrading ADEA to Buy Rating from Top Pick, initiating coverage of XPER with Top Pick.
The separation of the two businesses should allow the markets to appropriately price each stock. This should lead to a higher overall valuation compared to when the companies were together.
XPER is our Top Pick due to the multiple revenue opportunities from new products over the next 12 months.


United States

Xperi Holding Corp creates, develops, and licenses audio, computational imaging, computer vision and semiconductor packaging and interconnect technologies. The Company offers its products and solutions to mobile, home, datacenter, and automotive industries.

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Xperi (XPER US)

XPER: More Design Wins Pathing Revenue

XPER continues to make progress adding new customers. New TVOS and connected car customers were the highlight of the first quarter earnings report

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XPER: Guidance Affirms Trajectory

Fourth quarter results were slightly ahead of our estimates, but it was 2023 guidance that investors were looking forward to. XPER's guidance...

BWS Financial Inc

XPER: CES and a New Catalyst

The biggest news from CES was Roku (ROKU) launching its own line of TVs, which could lead to some of ROKU's current customers looking for other...

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XPER: New Launches Reduce Execution Risk

XPER reiterated its full year financial guidance and announced a series of new customer launches and design wins. We view the product placement...

BWS Financial Inc

ADEA & XPER: The Spin and Price Targets

The separation of IP and product leads us to make changes to our coverage universe. ADEA is a Buy and XPER is the Top Pick

BWS Financial Inc

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