TiVo (TIVO) Rating Increased to Hold at Zacks Investment Research

TiVo (NASDAQ:TIVO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, February 5th.

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.”

TIVO has been the topic of several other reports. B. Riley reaffirmed a “buy” rating and issued a $31.00 target price on shares of TiVo in a report on Monday, October 30th. BWS Financial assumed coverage on shares of TiVo in a research note on Monday, January 22nd. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Piper Jaffray Companies restated a “buy” rating and set a $25.00 target price on shares of TiVo in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. TiVo presently has a consensus rating of “Buy” and an average target price of $23.20.

TiVo (TIVO) traded up $0.10 during trading on Monday, reaching $13.40. 821,500 shares of the company’s stock were exchanged, compared to its average volume of 1,383,659. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.33 and a current ratio of 2.38. The firm has a market cap of $1,623.32, a price-to-earnings ratio of -34.42, a PEG ratio of 1.05 and a beta of -0.10. TiVo has a 12 month low of $12.75 and a 12 month high of $21.75.

In other news, CEO Enrique Rodriguez bought 55,974 shares of TiVo stock in a transaction dated Friday, December 1st. The shares were acquired at an average cost of $17.86 per share, with a total value of $999,695.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.57% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new stake in TiVo in the fourth quarter valued at $114,000. PNC Financial Services Group Inc. raised its holdings 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 valued at $155,000 after acquiring an additional 1,239 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings 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 valued at $209,000 after acquiring an additional 856 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of TiVo by 73.7% during the second quarter. Flinton Capital Management LLC now owns 11,458 shares of the technology company’s stock worth $214,000 after purchasing an additional 4,862 shares during the period. Finally, Shelton Capital Management raised its holdings in shares of TiVo by 7.4% during the second quarter. Shelton Capital Management now owns 12,011 shares of the technology company’s stock worth $224,000 after purchasing an additional 824 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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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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