TiVo (TIVO) Lifted to Hold at Zacks Investment Research

TiVo (NASDAQ:TIVO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Estimates have remained stable ahead of TiVo’s fourth-quarter 2017 results. The company has been benefiting from new licensing agreements, as well as the introduction of innovative products. Going ahead, the merger of TiVo and Rovi has brought together two leading players in the media entertainment industry, with complementary products and services, as well as a number of patented technologies. Nonetheless, we are concerned about the uncertainty regarding the settlement of the ongoing dispute between TiVo and Comcast. Comcast has decided to fight against the ruling in the US Patent and Trademark office, which may take another 8-12 months to resolve. Also, Comcast may not renew its existing licensing agreement with TiVo, which is set to expire in July this year, thereby resulting in a huge loss of revenues for the company. All this makes us increasingly cautious about TiVo near-term prospects.”

Other research analysts have also recently issued research reports about the company. B. Riley reissued a “buy” rating and issued a $31.00 target price on shares of TiVo in a research note on Monday, October 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $25.00 target price on shares of TiVo in a research note on Friday, November 3rd. Finally, BWS Financial initiated coverage on TiVo in a research note on Monday, January 22nd. They issued a “buy” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. TiVo has an average rating of “Buy” and an average target price of $23.20.

Shares of TiVo (TIVO) traded up $0.40 during mid-day trading on Tuesday, reaching $14.00. 1,203,900 shares of the company’s stock were exchanged, compared to its average volume of 1,366,623. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.38 and a quick ratio of 2.33. TiVo has a 1-year low of $12.75 and a 1-year high of $20.30. The company has a market cap of $1,708.76, a PE ratio of -35.90, a price-to-earnings-growth ratio of 1.10 and a beta of -0.10.

In other TiVo news, CEO Enrique Rodriguez purchased 55,974 shares of the business’s stock in a transaction on Friday, December 1st. The stock was acquired at an average cost of $17.86 per share, for a total transaction of $999,695.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.57% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TIVO. Macquarie Group Ltd. purchased a new stake in TiVo during the fourth quarter valued at about $114,000. PNC Financial Services Group Inc. raised its stake in TiVo by 17.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,313 shares of the technology company’s stock worth $155,000 after buying an additional 1,239 shares in the last quarter. AMP Capital Investors Ltd bought a new position in TiVo in the fourth quarter worth about $192,000. Suntrust Banks Inc. bought a new position in TiVo in the fourth quarter worth about $199,000. Finally, Public Employees Retirement System of Ohio raised its stake in TiVo by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 11,207 shares of the technology company’s stock worth $209,000 after buying an additional 856 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.

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TiVo Company Profile

TiVo Corporation is engaged in offering media and entertainment products. The Company operates through two segments: Intellectual Property Licensing and Product. The Company’s Product segment includes a suite of component technologies that can be integrated into media service provider internally developed platforms or deployed as an integrated TiVo solution.

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