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 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 subject of a number of other reports. B. Riley restated a “buy” rating and issued a $31.00 price objective on shares of TiVo in a research note 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 reiterated a “buy” rating and set a $25.00 target price on shares of TiVo in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $23.20.

Shares of TiVo (NASDAQ TIVO) opened at $13.30 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.38 and a quick ratio of 2.33. The stock has a market cap of $1,629.42, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.05 and a beta of -0.10. TiVo has a one year low of $12.75 and a one year high of $21.75.

In other TiVo news, CEO Enrique Rodriguez purchased 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, with a total value of $999,695.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.57% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TIVO. Bank of New York Mellon Corp grew its holdings in shares of TiVo by 54.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,386,223 shares of the technology company’s stock worth $37,225,000 after purchasing an additional 845,257 shares during the last quarter. BlackRock Inc. grew its holdings in shares of TiVo by 3.6% in the 4th quarter. BlackRock Inc. now owns 15,835,515 shares of the technology company’s stock worth $247,034,000 after purchasing an additional 554,404 shares during the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in shares of TiVo by 64.0% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 1,134,945 shares of the technology company’s stock worth $17,705,000 after purchasing an additional 442,971 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of TiVo in the 4th quarter worth about $4,286,000. Finally, Wells Fargo & Company MN grew its holdings in shares of TiVo by 102.6% in the 4th quarter. Wells Fargo & Company MN now owns 537,476 shares of the technology company’s stock worth $8,385,000 after purchasing an additional 272,164 shares during the last quarter. 89.96% of the stock is currently 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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