Xperi price target lowered to $19 from $23 at Maxim

Maxim lowered the firm’s price target on Xperi to $19 from $23 but keeps a Buy rating on the shares after its Q4 results. The company’s pay-tv and media platform segments posted strong sequential growth as underlying business dynamics strengthened, the analyst tells investors in a research note. The firm adds however that its reduced price target on Xperi reflects a compression among the company’s peers.