TiVo (TIVO) Upgraded to “Hold” by 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 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.”

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

Shares of TiVo (NASDAQ TIVO) traded down $0.47 during trading on Monday, reaching $13.88. The company’s stock had a trading volume of 1,296,313 shares, compared to its average volume of 1,352,959. TiVo has a fifty-two week low of $13.60 and a fifty-two week high of $21.75. The firm has a market cap of $1,751.47, a P/E ratio of -35.90, a price-to-earnings-growth ratio of 1.13 and a beta of -0.10. The company has a quick ratio of 2.33, a current ratio of 2.38 and a debt-to-equity ratio of 0.53.

In other news, CEO Enrique Rodriguez acquired 55,974 shares of the stock in a transaction on Friday, December 1st. The shares were purchased at an average price of $17.86 per share, for a total transaction of $999,695.64. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 3.57% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TIVO. Amalgamated Bank increased its position in shares of TiVo by 0.5% in the second quarter. Amalgamated Bank now owns 15,847 shares of the technology company’s stock worth $296,000 after purchasing an additional 85 shares during the period. PNC Financial Services Group Inc. increased its position in shares of 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 purchasing an additional 1,239 shares during the period. New York State Common Retirement Fund increased its position in shares of TiVo by 6.4% in the second quarter. New York State Common Retirement Fund now owns 131,037 shares of the technology company’s stock worth $2,444,000 after purchasing an additional 7,899 shares during the period. Northern Trust Corp increased its position in shares of TiVo by 9.5% in the second quarter. Northern Trust Corp now owns 2,258,542 shares of the technology company’s stock worth $42,121,000 after purchasing an additional 195,644 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of TiVo by 1.7% in the second quarter. Vanguard Group Inc. now owns 11,128,544 shares of the technology company’s stock worth $207,547,000 after purchasing an additional 182,567 shares during the period. Institutional investors own 90.10% of the company’s stock.

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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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