XPER - Xperi Corp: Attractive Free Cash Flow Yield But There Are Concerns
Business Overview
Tessera Holding Corporation changed its name to Xperi Corporation (XPER) in February 2017 soon after its acquisition of DTS Inc, a developer of sound-based technologies, in H2 2016 for approximately USD955 million. Xperi maintains a large research and development budget with a team of 400 engineers developing technologies that enable intelligent, immersive and personalized experiences. Xperi licenses its technologies to companies who embed them into their own consumer electronics and semiconductor products. As shown in the slide below, Xperi operates through two segments.
Source: Q2 2019 earnings presentation
The Product Licensing