Quarterhill’s (QTRH) “Buy” Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Quarterhill (NASDAQ:QTRH) in a report released on Friday. The firm currently has a $2.00 price objective on the stock.

QTRH has been the subject of several other reports. ValuEngine upgraded Quarterhill from a strong sell rating to a sell rating in a report on Friday, August 3rd. Zacks Investment Research upgraded Quarterhill from a sell rating to a hold rating in a report on Thursday, July 12th.

QTRH traded down $0.05 during trading on Friday, reaching $1.21. The stock had a trading volume of 200,553 shares, compared to its average volume of 31,847. The company has a market cap of $148.52 million, a price-to-earnings ratio of 2.33 and a beta of 1.17. Quarterhill has a one year low of $1.01 and a one year high of $2.06.

Quarterhill (NASDAQ:QTRH) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). Quarterhill had a positive return on equity of 16.50% and a negative net margin of 4.30%. The firm had revenue of $19.58 million during the quarter. On average, sell-side analysts predict that Quarterhill will post -0.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 13th. This is an increase from Quarterhill’s previous quarterly dividend of $0.01. This represents a $0.04 annualized dividend and a dividend yield of 3.31%. Quarterhill’s dividend payout ratio (DPR) is presently 7.69%.

Several large investors have recently modified their holdings of QTRH. Acadian Asset Management LLC increased its holdings in shares of Quarterhill by 67.6% during the second quarter. Acadian Asset Management LLC now owns 732,537 shares of the company’s stock valued at $814,000 after acquiring an additional 295,400 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Quarterhill by 14.7% during the second quarter. Renaissance Technologies LLC now owns 1,736,331 shares of the company’s stock valued at $1,927,000 after acquiring an additional 222,831 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Quarterhill by 6.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,253,395 shares of the company’s stock valued at $6,941,000 after acquiring an additional 359,925 shares in the last quarter. Hedge funds and other institutional investors own 11.83% of the company’s stock.

Quarterhill Company Profile

Quarterhill Inc focuses on acquisition and management of technology companies that provides products and services worldwide. Its Technology segment licenses patent technologies to approximately 355 companies. Its patent portfolios include patents relating to 3D television, phased loop semiconductor, semiconductor manufacturing and packaging, medical stent, intelligent personal assistant, streaming video, semiconductor clocking, LED lighting, smart meter monitoring, non-volatile flash memory and other memory, building automation, enhanced image processing, computer gaming, and various other technologies; automotive headlight assemblies, microcontrollers applicable to safety-critical aerospace, and CMOS image sensors; and medical, industrial, and automotive applications.

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