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 report issued on Monday.

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.”

Several other analysts have also weighed in on the company. B. Riley upgraded TiVo from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday. BWS Financial began coverage on TiVo in a report 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 issued a $25.00 price objective on shares of TiVo in a report on Friday, November 3rd. One analyst has rated the stock with a hold rating and six have given 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 down $0.35 during trading on Monday, hitting $14.00. The stock had a trading volume of 1,071,886 shares, compared to its average volume of 1,351,228. 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 capitalization of $1,751.47, a price-to-earnings ratio of -35.90, a price-to-earnings-growth ratio of 1.13 and a beta of -0.10. TiVo has a twelve month low of $13.60 and a twelve month high of $21.75.

In related news, CEO Enrique Rodriguez bought 55,974 shares of TiVo stock in a transaction dated Friday, December 1st. The stock was acquired at an average cost of $17.86 per share, with a total value of $999,695.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.57% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of TiVo by 0.5% during the second quarter. Amalgamated Bank now owns 15,847 shares of the technology company’s stock valued at $296,000 after purchasing an additional 85 shares during the last quarter. Shelton Capital Management lifted 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 valued at $224,000 after purchasing an additional 824 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of TiVo by 8.3% during 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 purchasing an additional 856 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of TiVo by 17.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,313 shares of the technology company’s stock valued at $155,000 after purchasing an additional 1,239 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in shares of TiVo by 22.6% during the third quarter. LS Investment Advisors LLC now owns 14,848 shares of the technology company’s stock valued at $295,000 after purchasing an additional 2,735 shares during the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.

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About TiVo

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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